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 123 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?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

cell line selection cell line selection
Continuous, Absorption Line, and Emission Line Spectra Continuous, Absorption Line, and Emission Line Spectra
Example of Reconciling a Bank Statement Example of Reconciling a Bank Statement
Historical Time Line of Regulatory Acts, Standards, and Organizations Historical Time Line of Regulatory Acts, Standards, and Organizations
(A) Pinch along jaw line from midline to lateral aspect. (B) Press St-6 at masseter attachment. (A) Pinch along jaw line from midline to lateral aspect. (B) Press St-6 at masseter attachment.
Electrolyte Balance Electrolyte Balance
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library