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 29 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
YES! Correct, THANKS for helping me on my review

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

« previous next »
 

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.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

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?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

reactions of an ester with a carboxylate group to form an anhydride. The R group is the same in each reactions of an ester with a carboxylate group to form an anhydride. The R group is the same in each
someones got a case of the Mondays... someones got a case of the Mondays...
Arguments take place when partners are home from work Arguments take place when partners are home from work
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Uterine (menstrual) cycle - phases

For a complete list of videos, visit our video library