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 107 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?

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

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.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Spectral Line Motion in Binary Star Systems Spectral Line Motion in Binary Star Systems
Do you know how kangaroos balance their body Do you know how kangaroos balance their body
Time Line of Human History From Upper Paleolithic Period to the Present Time Line of Human History From Upper Paleolithic Period to the Present
Johannes Vermeer, Woman Holding a Balance. Johannes Vermeer, Woman Holding a Balance.
A downward-sloping spark line usually indicates high secondary ignition system resistance or an ... A downward-sloping spark line usually indicates high secondary ignition system resistance or an ...
Normal (A) and Abnormal (B) Balance between Dopamine and Acetylcholine Normal (A) and Abnormal (B) Balance between Dopamine and Acetylcholine
Video: Brain Anatomy Animation (Part 2 of 2)

For a complete list of videos, visit our video library