1,2 & extra credit please

1. Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancinga mortgage involves applying and receiving a new mortgage fat a new and, preferably lower interest rate) for the amount of the remaining principal fie, the current balance of the current mortgage. The loan amount of the new mortgage is used to pay offfi.e. dose) the current mortgage. In other words, when refinancing the mortgage, you stop the current morte.get a new mortgage pay off the remaining balance of the current mortgage using the new loan amount and then start paying off the new mortgage according to the terms of the new mortgage. Beware! When someone refinances their house, even though the person's new monthly payment with the new mortgage may be reduced, it may be possible that they will actually pay more in total interest for the new mortgage than the remaining amount of interest for the current mortgogel if the total amount of interest that the person would pay with the new (refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances involved). Suppose that you are currently making monthly payments on a $323,455 30-year more at 4.22% interest compounded monthly. For the last years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20- year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lenderat the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solver, show the all variables and the values you entered into the variables) and solved for. Your final answer should be in the form of two or three sentences that summarizes your findings (20 points) 2. A company that produces apps for smart phone has a particular app lapp A) that it ses for $14 The fixed cost incurred by the division and the marginal cost of producing op Als $24.000 and $6, respectively. Do the following: A Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company, Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realise a 40% profit over the cost of making the app fire the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Extra Credit Problem: Take the equation and do the following A Solve for x by hand without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution 13 points) What value (or values) can the variable m not be equal to? Explaint(2 points) 1. Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancing a mortgage involves applying and receiving a new mortgage (at a new and, preferably, lower interest rate) for the amount of the remaining principal (i.e. the current balance) of the current mortgage. The loan amount of the new mortgage is used to pay off (i.e. close) the current mortgage. In other words, when refinancing the mortgage, you stop the current mortgage, get a new mortgage, pay off the remaining balance of the current mortgage using the new loan amount, and then start paying off the new mortgage according to the terms of the new mortgage. Beware/ When someone refinances their house, even though the person's new monthly payment (with the new mortgage) may be reduced, it may be possible that they will actually pay more in total interest for the new mortgage than the remaining amount of interest for the current mortgage! If the total amount of interest that the person would pay with the new (refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances involved). I Suppose that you are currently making monthly payments on a $323,455 30-year mortgage at 4.22% interest compounded monthly. For the last 9 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20- year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lender of the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new (refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money. Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solver, show the all variables and the values you entered into the variables) and solved for. Your final answer should be in the form of two or three sentences that summarizes your findings. (20 points) SP-21.pdf Download @ Print Save to OneDrive should be in the form of two or three sentences that summarizes your findings. (20 points) 2. A company that produces apps for smart phone has a particular app (app A) that it sells for $14. The fixed cost incurred by the division and the marginal cost of producing app A is $24,000 and $6, respectively. Do the following: A. B. Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company, Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realize a 40% profit over the cost of making the app (i.e. the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) 6x - X Take the equation 4m = - *IN and do the following: m A. Solve for x by hand (without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution. (3 points) B. What value for values) can the variable m not be equal to? Explain! (2 points) I Extra Credit Problem: Take the equation 4m - 6x1 x and do the following: m 2 2 A. Solve for x by hand (without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution. (3 points) B. What value (or values) can the variable m not be equal to? Explain! (2 points) A company that produces apps for smart phone has a particular app (app A) that it sells for $14. The fixed cost incurred by the division and the marginal cost of producing app A is $24,000 and $6, respectively. Do the following: A. B. Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realize a 40% profit over the cost of making the app (i.e. the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancinga mortgage involves applying and receiving a new mortgage at a new and preferably lower interest rate) for the amount of the remaining principal fue the current balance of the current mortgage. The loan amount of the new mortgage is used to pay office. dese) the current mortgage In other words, when refinancing the mortgage you stop the current mortpeper a new mortgage pay off the remaining balance of the current mortgage using the new loan amount, and then start paying off the new mortgage according to the terms of the new mortgage. Beware! When someone refinances their house, even though the person's new monthly payment with the new mortgage may be reduced, it may be possible that they will actually pay more in total interest for the new mortgope than the remaining amount of interest for the current mortgagel If the total amount of interest that the person would pay with the new refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances Involved) Suppose that you are currently making monthly payments on a $323,455 30 year mortgage at 4.22% interest compounded monthly. For the last 9 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20 year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lender of the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new refinanced mortgage. The leader stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solvet show the all variables and the values you entered into the variables and solved for. Your finale should be in the form of two or three sentences that summarizes your findings (20 points) 1. Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancinga mortgage involves applying and receiving a new mortgage fat a new and, preferably lower interest rate) for the amount of the remaining principal fie, the current balance of the current mortgage. The loan amount of the new mortgage is used to pay offfi.e. dose) the current mortgage. In other words, when refinancing the mortgage, you stop the current morte.get a new mortgage pay off the remaining balance of the current mortgage using the new loan amount and then start paying off the new mortgage according to the terms of the new mortgage. Beware! When someone refinances their house, even though the person's new monthly payment with the new mortgage may be reduced, it may be possible that they will actually pay more in total interest for the new mortgage than the remaining amount of interest for the current mortgogel if the total amount of interest that the person would pay with the new (refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances involved). Suppose that you are currently making monthly payments on a $323,455 30-year more at 4.22% interest compounded monthly. For the last years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20- year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lenderat the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solver, show the all variables and the values you entered into the variables) and solved for. Your final answer should be in the form of two or three sentences that summarizes your findings (20 points) 2. A company that produces apps for smart phone has a particular app lapp A) that it ses for $14 The fixed cost incurred by the division and the marginal cost of producing op Als $24.000 and $6, respectively. Do the following: A Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company, Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realise a 40% profit over the cost of making the app fire the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Extra Credit Problem: Take the equation and do the following A Solve for x by hand without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution 13 points) What value (or values) can the variable m not be equal to? Explaint(2 points) 1. Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancing a mortgage involves applying and receiving a new mortgage (at a new and, preferably, lower interest rate) for the amount of the remaining principal (i.e. the current balance) of the current mortgage. The loan amount of the new mortgage is used to pay off (i.e. close) the current mortgage. In other words, when refinancing the mortgage, you stop the current mortgage, get a new mortgage, pay off the remaining balance of the current mortgage using the new loan amount, and then start paying off the new mortgage according to the terms of the new mortgage. Beware/ When someone refinances their house, even though the person's new monthly payment (with the new mortgage) may be reduced, it may be possible that they will actually pay more in total interest for the new mortgage than the remaining amount of interest for the current mortgage! If the total amount of interest that the person would pay with the new (refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances involved). I Suppose that you are currently making monthly payments on a $323,455 30-year mortgage at 4.22% interest compounded monthly. For the last 9 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20- year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lender of the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new (refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money. Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solver, show the all variables and the values you entered into the variables) and solved for. Your final answer should be in the form of two or three sentences that summarizes your findings. (20 points) SP-21.pdf Download @ Print Save to OneDrive should be in the form of two or three sentences that summarizes your findings. (20 points) 2. A company that produces apps for smart phone has a particular app (app A) that it sells for $14. The fixed cost incurred by the division and the marginal cost of producing app A is $24,000 and $6, respectively. Do the following: A. B. Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company, Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realize a 40% profit over the cost of making the app (i.e. the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) 6x - X Take the equation 4m = - *IN and do the following: m A. Solve for x by hand (without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution. (3 points) B. What value for values) can the variable m not be equal to? Explain! (2 points) I Extra Credit Problem: Take the equation 4m - 6x1 x and do the following: m 2 2 A. Solve for x by hand (without the use of a calculator). Show all the necessary steps needed to arrive at your answer. Anyone who has had algebra should be able to follow your steps. You should have at least 6 steps in your solution. (3 points) B. What value (or values) can the variable m not be equal to? Explain! (2 points) A company that produces apps for smart phone has a particular app (app A) that it sells for $14. The fixed cost incurred by the division and the marginal cost of producing app A is $24,000 and $6, respectively. Do the following: A. B. Determine the number of apps needed to be sold and the revenue from the sold apps that is the break even point for the company. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Determine the number of apps needed to be sold for the company to realize a 40% profit over the cost of making the app (i.e. the revenue is 40% higher than the cost). Round your answer to the nearest integer. Show in detail how you arrived at your answer. Your final answer should be in the form of a sentence. (10 points) Refinancing a Home: The following explanation is the basic idea of refinancing a mortgage/home. Refinancinga mortgage involves applying and receiving a new mortgage at a new and preferably lower interest rate) for the amount of the remaining principal fue the current balance of the current mortgage. The loan amount of the new mortgage is used to pay office. dese) the current mortgage In other words, when refinancing the mortgage you stop the current mortpeper a new mortgage pay off the remaining balance of the current mortgage using the new loan amount, and then start paying off the new mortgage according to the terms of the new mortgage. Beware! When someone refinances their house, even though the person's new monthly payment with the new mortgage may be reduced, it may be possible that they will actually pay more in total interest for the new mortgope than the remaining amount of interest for the current mortgagel If the total amount of interest that the person would pay with the new refinanced) mortgage is greater than the remaining interest for their current mortgage, then it is usually unwise to refinance the house (unless there are other circumstances Involved) Suppose that you are currently making monthly payments on a $323,455 30 year mortgage at 4.22% interest compounded monthly. For the last 9 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 20 year mortgage that has an interest rate of 3.88% compounded monthly. Note that the lender of the new loan has a closing cost fee of $1,700 (for title insurance, home appraisal costs, etc.) for the new refinanced mortgage. The leader stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money in interest if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money Show all your work that you used to answer this problem. Label the steps that you use and important values as you solve the problem. Note that when you use the TVM Solvet show the all variables and the values you entered into the variables and solved for. Your finale should be in the form of two or three sentences that summarizes your findings (20 points)