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

Author Question: Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... (Read 120 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
on: Jun 6, 2019

Question 1

Romeo started an RRSP on March 1, 2016, with a deposit of $35 000.00. She added $19 000.00 on December 1, 2017, and $8500.00 on September 1, 2018. What is the accumulated value of her account on December 1, 2020, if interest is 6.6% compounded monthly?
◦ $41260.10
◦ $80850.58
◦ $47846.07
◦ $39272.78
◦ $70993.80

Question 2

Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. Payments of $30000.00 and $25000.00 were made after four months and ten months respectively. At the end of one year, he borrowed an additional $42500.00. Seven months later, the line of credit loan was converted into a collateral mortgage loan. What was the amount of the mortgage if the line of credit interest was at prime (3%) + 1.25% compounded monthly?
◦ $45368.70
◦ $63125.35
◦ $61582.31
◦ $77002.58
◦ $19560.45
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 Pineapplelove6 on Jun 6, 2019

aliotak

  • Sr. Member
  • ****
  • Posts: 326
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 49% of students answer this correctly


Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 6, 2019
Thank you!


aliotak

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

The effects of germ-line versus somatic cell mutations. The effects of germ-line versus somatic cell mutations.
Historical Time Line of Regulatory Acts, Standards, and Organizations Historical Time Line of Regulatory Acts, Standards, and Organizations
Write the equation in general form of the line passing through the point Write the equation in general form of the line passing through the point
A new drug development time line with the four phases of drug approval. A new drug development time line with the four phases of drug approval.
Reaction 1: The Initial Dehydrogenation Reaction 1: The Initial Dehydrogenation
A mortgage loan of $132,000 at 6% compounded semiannually is to be amortized over 25 years by ... A mortgage loan of $132,000 at 6% compounded semiannually is to be amortized over 25 years by ...
Video: Leukemia

For a complete list of videos, visit our video library