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

Author Question: What would be the real cost of borrowing in the following case? A home equity loan is advertised at ... (Read 60 times)

pragya sharda

  • Hero Member
  • *****
  • Posts: 566
on: Nov 11, 2019
What would be the real cost of borrowing in the following case? A home equity loan is advertised at three percent compounded monthly, however, there is a legal fee of $400 and appraisal fee of $450 to set up the house as collateral. If Sarah needs to borrow $20 000 for one year, at which time will be able to repay the full amount, what is the effective rate of borrowing the $20 000 for the year?
◦ 4.25%
◦ 7.29%
◦ 3.04%
◦ 7.25%
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by pragya sharda on Nov 11, 2019

pikon

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Nov 11, 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 39% of students answer this correctly


pragya sharda

  • Member
  • Posts: 566
Reply 2 on: Nov 11, 2019
Wow, this really help

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

This iron bird feeder is advertised as being “squirrel-proof and bear-resistantââ This iron bird feeder is advertised as being “squirrel-proof and bear-resistantââ
Some clues about the importance of language experience come from the tragic case of Genie, a girl ... Some clues about the importance of language experience come from the tragic case of Genie, a girl ...
Martha Rosler, Gladiators, from the series House Beautiful: Bringing the War Home. 2004 Martha Rosler, Gladiators, from the series House Beautiful: Bringing the War Home. 2004
Who Makes The Decisions at Home? Who Makes The Decisions at Home?
Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he ... Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he ...
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library