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 57 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!

kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Tips for making phone consultations Tips for making phone consultations
The Making of Black Harlem The Making of Black Harlem
Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ... Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ...
(A) In hyperopia, light rays focus behind the retina, making it difficult to focus on objects at ... (A) In hyperopia, light rays focus behind the retina, making it difficult to focus on objects at ...
How to calculate monthly payments at varying amortization periods (Question 3) How to calculate monthly payments at varying amortization periods (Question 3)
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: Brain Anatomy Animation (Part 1 of 2)

For a complete list of videos, visit our video library