« previous next »

Author Question: A home equity loan A) is a special type of second mortgage on your home. B) can no ... (Read 74 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jul 11, 2018
A home equity loan
 
  A)
 
  is a special type of second mortgage on your home.
  B)
 
  can no longer provide tax-deductible interest payments.
  C)
 
  has a fixed term with fixed installment payments.
  D)
 
  exceeds owner's equity in the home.

Question 2

Eastinghome Inc. just paid 8,000 to a landowner to explore for but not extract valuable minerals. If the landowner invests the money at a rate of 5.5 compounded annually for 7 years what is the investment worth at the end of that time period?
 
  A) 5,499.49
  B) 11,637.43
  C) 56,000.00
  D) 66,135.15


kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 11, 2018
Answer to Question 1

A

Answer to Question 2

B
Explanation: B) Via Calculator: N = 7, I = 5.5, PV = 8,000, Solve for FV = 11,637.43.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Switching of mating type in haploid yeast cells Switching of mating type in haploid yeast cells
What type of errors are these: calling only large dogs a dog and calling a dog a kitty? What type of errors are these: calling only large dogs a dog and calling a dog a kitty?
Connections of a nitric acid plant, intermediate pressure type Connections of a nitric acid plant, intermediate pressure type
How to calculate mortgage payments (Question 2 of 2) How to calculate mortgage payments (Question 2 of 2)
Primary Type of Floor Framing Primary Type of Floor Framing
Video: Digestion Animation

For a complete list of videos, visit our video library