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Author Question: A mortgage of $326 000 is to be repaid by making payments of $2500 at the end of each month. If ... (Read 48 times)

renzo156

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on: Jun 6, 2019

Question 1

Mark deposits $900 at the end of each month in a savings account earning 4.5% quarterly. How soon can he buy his first car assuming that he needs $8 000 for a decent car.
◦ 8.86 months
◦ 8.52 months
◦ 8.76 months
◦ 9 years
◦ 9.06 months

Question 2

A mortgage of $326 000 is to be repaid by making payments of $2500 at the end of each month. If interest is 4.75% compounded semi-annually, what is the term of the mortgage?
◦ 106 months
◦ 105 months
◦ 184 months
◦ 183 months
◦ 182 months
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by renzo156 on Jun 6, 2019

Sassygurl126

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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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renzo156

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

elyse44

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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