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

Author Question: What would be the real cost of borrowing in the following case? A home equity loan is advertised at ... (Read 28 times)

pragya sharda

  • Hero Member
  • *****
  • Posts: 566
on: Nov 11, 2019
What would be the real cost of borrowing in the following case? A home equity loan is advertised at three percent compounded monthly, however, there is a legal fee of $400 and appraisal fee of $450 to set up the house as collateral. If Sarah needs to borrow $20 000 for one year, at which time will be able to repay the full amount, what is the effective rate of borrowing the $20 000 for the year?
◦ 4.25%
◦ 7.29%
◦ 3.04%
◦ 7.25%
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by pragya sharda on Nov 11, 2019

pikon

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Nov 11, 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 39% of students answer this correctly


pragya sharda

  • Member
  • Posts: 566
Reply 2 on: Nov 11, 2019
Wow, this really help

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Sugar Cube-Sized Robotic Ants Mimic Real Foraging Behavior Sugar Cube-Sized Robotic Ants Mimic Real Foraging Behavior
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Cost of Laptops Cost of Laptops
Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ... Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ...
Electropherogram showing the STR profiles of four samples from a rape case Electropherogram showing the STR profiles of four samples from a rape case
The family described in Example Case 4 The family described in Example Case 4
Video: Calvin cycle (The light-independent reactions )

For a complete list of videos, visit our video library