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Author Question: The Henderson's borrow $407,000 to purchase a new home. They finance the amount through a 30 -yr ... (Read 61 times)

jCorn1234

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Question 1

Tasha borrows $9000 to purchase a new car. She finances the amount through an amortized loan at an annual interest rate of 9.9%, compounded monthly for 3 yr. Find Tasha's monthly car payment?
◦ $339.88
◦ $289.98
◦ $24.75
◦ $74.25

Question 2

The Henderson's borrow $407,000 to purchase a new home. They finance the amount through a 30 -yr mortgage at an annual interest rate of 5.6%, compounded monthly. Find the Henderson's monthly mortgage payment.
◦ $1899.33
◦ $14,570.06
◦ $2336.50
◦ $3957.24


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Marked as best answer by jCorn1234 on Jun 16, 2021

polinasid

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jCorn1234

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Reply 2 on: Jun 16, 2021
Excellent


nguyenhoanhat

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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