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

Author Question: A mortgage of $326 000 is to be repaid by making payments of $2500 at the end of each month. If ... (Read 59 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jun 6, 2019

Question 1

Mark deposits $900 at the end of each month in a savings account earning 4.5% quarterly. How soon can he buy his first car assuming that he needs $8 000 for a decent car.
◦ 8.86 months
◦ 8.52 months
◦ 8.76 months
◦ 9 years
◦ 9.06 months

Question 2

A mortgage of $326 000 is to be repaid by making payments of $2500 at the end of each month. If interest is 4.75% compounded semi-annually, what is the term of the mortgage?
◦ 106 months
◦ 105 months
◦ 184 months
◦ 183 months
◦ 182 months
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 renzo156 on Jun 6, 2019

Sassygurl126

  • Sr. Member
  • ****
  • Posts: 320
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 25% of students answer this correctly


renzo156

  • Member
  • Posts: 526
Reply 2 on: Jun 6, 2019
Gracias!

hollysheppard095

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

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?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

The Making of the Himalayas The Making of the Himalayas
This graphic illustrates the original systems model of politics advanced by David Easton. Politics This graphic illustrates the original systems model of politics advanced by David Easton. Politics
The Making of Black Harlem The Making of Black Harlem
An embedded particle of something was found on one of the gears, making this pump worthless except ... An embedded particle of something was found on one of the gears, making this pump worthless except ...
The Making of a Protein The Making of a Protein
The 18 exons making up the gene encoding the LDL receptor protein The 18 exons making up the gene encoding the LDL receptor protein
Video: Miller's reaction chamber experiment Animation

For a complete list of videos, visit our video library