Questions from Financial Algebra

Q: J.P. has been offered a 20-year,

J.P. has been offered a 20-year, $350,000 loan with a 3.9% APR. If he purchases 1 point, his APR will reduce to 3.7%. How much will his monthly payment savings be?

Q: Toni purchased 3 points, each of which reduced her APR by

Toni purchased 3 points, each of which reduced her APR by 0.125%. Each point cost 1% of her loan value. Her new APR is 3.2%, and the points cost her $8,100. a. What was the original APR? b. What is...

Q: Dylan purchased A points, each of which reduced his APR by

Dylan purchased A points, each of which reduced his APR by B%. The cost per point was 1% of the loan amount. His new APR is C%, and his points cost him D dollars. Write an algebraic expression for: a...

Q: The bank offered Annette a $380,000, 30-

The bank offered Annette a $380,000, 30-year mortgage at 3.54%. She is deciding whether to purchase 2 points to reduce her APR by 0.25% per point. Each point will cost 1% of the loan value. a. Calcula...

Q: The credit union offered Zach a $200,000, 10

The credit union offered Zach a $200,000, 10-year loan at a 3.625% APR. Should Zach purchase 1 point or no points? Each point lowers the APR by 0.125% and costs 1% of the loan amount. Justify your rea...

Q: A profit function is determined to be P = -180p2 +

A profit function is determined to be P = -180p2 + 154000p - 28,950,500. Find the roots of the equation. Are they real or complex? If complex, what does this imply about the profit function?

Q: Marina wants to take out a $500,000 loan to

Marina wants to take out a $500,000 loan to purchase a new home. The bank offers a 25-year loan with an APR of 3.8%. If she purchases 1 point for 1% of the value of the loan, she will reduce her APR b...

Q: How might a large trade “move the market”? How might

How might a large trade “move the market”? How might those words apply to what you have learned?

Q: Jessica put in an order for some shares of Exxon Mobil Corp

Jessica put in an order for some shares of Exxon Mobil Corp. a. As shown on the ticker, how many shares did Jessica buy? b. How much did each share cost? c. What was the value of Jessicaâ&#...

Q: Phil sold his shares of Verizon Communications Inc., as indicated on

Phil sold his shares of Verizon Communications Inc., as indicated on the above ticker. a. How many shares did he sell? b. How much did each share sell for? c. What was the total value of all the s...