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Author Question: Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... (Read 119 times)

Pineapplelove6

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on: Jun 6, 2019

Question 1

Romeo started an RRSP on March 1, 2016, with a deposit of $35 000.00. She added $19 000.00 on December 1, 2017, and $8500.00 on September 1, 2018. What is the accumulated value of her account on December 1, 2020, if interest is 6.6% compounded monthly?
◦ $41260.10
◦ $80850.58
◦ $47846.07
◦ $39272.78
◦ $70993.80

Question 2

Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. Payments of $30000.00 and $25000.00 were made after four months and ten months respectively. At the end of one year, he borrowed an additional $42500.00. Seven months later, the line of credit loan was converted into a collateral mortgage loan. What was the amount of the mortgage if the line of credit interest was at prime (3%) + 1.25% compounded monthly?
◦ $45368.70
◦ $63125.35
◦ $61582.31
◦ $77002.58
◦ $19560.45
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Pineapplelove6 on Jun 6, 2019

aliotak

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Pineapplelove6

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Reply #2 on: Jun 6, 2019
Thank you!


aliotak

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Reply #3 on: Jun 6, 2019
Always glad to help...


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