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

Author Question: Principal of $259 000 on a house is mortgaged at a rate of 3.7% amortized over a period of 25 years ... (Read 36 times)

jace

  • Hero Member
  • *****
  • Posts: 541
on: Jun 6, 2019

Question 1

The simple interest rate being charged on a $10 000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

Question 2

Principal of $259 000 on a house is mortgaged at a rate of 3.7% amortized over a period of 25 years resulting into a total interest of $137 178.49. The bank also offers simple interest for the customers, who do not want to pay compound interest. If bank wishes to earn the same amount of interest over the period of 25 years, what rate will the bank charge to its customers, if the loan is paid in equal annual installments?
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 jace on Jun 6, 2019

atrochim

  • Sr. Member
  • ****
  • Posts: 331
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 58% of students answer this correctly


jace

  • Member
  • Posts: 541
Reply 2 on: Jun 6, 2019
Thanks for the timely response, appreciate it

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
The apples of today are larger and sweeter than their ancestors, thanks to hundreds of years The apples of today are larger and sweeter than their ancestors, thanks to hundreds of years
Latin House - C.O. (Club Oriented) - Alegria (Poca Alegria Beto Dj Mix) Latin House - C.O. (Club Oriented) - Alegria (Poca Alegria Beto Dj Mix)
Embryonic Period - 12th week Embryonic Period - 12th week
Frontal section through the right side of the skull showing the three principal regions of the ear Frontal section through the right side of the skull showing the three principal regions of the ear
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Summary of glucose catabolism

For a complete list of videos, visit our video library