Loan
1. Victor earns a gross annual income of $84,482 and is buying a home for $185,500. He is making a 10% down
payment and financing the rest with a 30-year loan at 3.75% interest.

Monthly Mortgage Payment Per $1000 Borrowed
Rate 15-year 20-year 25-year 30-year
loan
loan loan
3.00% 6.906 5.546 4.742
4.216
3.25% 7.027 5.672 4.873
4.352
3.50% 7.149 5.800
5.006 4.490
3.75% 7.272 5.929 5.141
4.631
4.00% 7.397 6.060 5.278 4.774
4.25% 7.523 6.192 5.417 4.919
4.50% 7.650 6.326 5.558 5.067
4.75% 7.778 6.462 5.701 5.216
5.00% 7.908 6.600 5.846 5.368

(a) What is the mortgage amount Victor will borrow?
(b) According to the rule of thumb used in this course, can Victor afford this mortgage? Justify your
response in order to earn full credit.
(c) What will Victor's monthly mortgage payment be?
(d) What will Victor's total payment for the house be?
(e) What is the amount of interest Victor will pay?

words
p English (United States)

what is the information provided?

step-by-step explanation:

the correct option is:

b. a value of the variable that makes the polynomial equal to zero.

the root or roots of a polynomial are the values of the variable that makes the polynomial equal to 0. we can find the roots of a polynomial making the expression equal to 0 and then, isolating the variable (it it has just one variable).

for example, given the following polynomial:

the root or zero of the polynomial, can be found by making the expression equal to 0, and then, isolating the variable, so, finding the root we have:

therefore, we have that the root of the polynomial is equal to 2.

we must remember that the number of roots that a polynomial can have, will depend on the degree of the polynomial, a first degree polynomial have will have one single root, a second degree polynomial (quadratic expression) may have two roots and so.

hence the correct option is:

b. a value of the variable that makes the polynomial equal to zero.

have a nice day!

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