This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The loan will have a term of 54 months and monthly payments of $385.13. The interest rate on the ... (Read 77 times)

ARLKQ

  • Hero Member
  • *****
  • Posts: 571
on: Jun 6, 2019

Question 1

A mortgage requires payments of $1000.00 at the end of every month for twenty-five years. If interest is 6% compounded semi-annually, calculate the principal of the loan.
◦ $33 328.64
◦ $156 297.23
◦ $155 206.86
◦ $300 000.00
◦ $46 188.41

Question 2

The loan will have a term of 54 months and monthly payments of $385.13. The interest rate on the loan is 8.84% compounded quarterly. What is the amount of money that was borrowed?
◦ $20 368.27
◦ $17 310.71
◦ $17 430.71
◦ $17 030.71
◦ $17 130.71
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ARLKQ on Jun 6, 2019

6ana001

  • Sr. Member
  • ****
  • Posts: 311
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.
Answer Preview
Only 29% of students answer this correctly


ARLKQ

  • Member
  • Posts: 571
Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Tree species richness in North America is correlated with evapotranspiration rate. Tree species richness in North America is correlated with evapotranspiration rate.
Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th
Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
How to calculate monthly payments at varying amortization periods (Question 2) How to calculate monthly payments at varying amortization periods (Question 2)
The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library