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Author Question: The Fergusons borrow $153,200 to purchase a new home. They finance the amount through a 25-yr ... (Read 75 times)

torybrooks

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on: Jun 16, 2021

Question 1

The Smith's borrow  to purchase a new home. They finance the amount through a 20-yr mortgage at an annual interest rate of 5.51%, compounded monthly. Find the Smith's monthly mortgage payment.
◦ $573.98
◦ $516.34
◦ $344.38
◦ $17.22

Question 2

The Fergusons borrow $153,200 to purchase a new home. They finance the amount through a 25-yr mortgage at an annual interest rate of 9.5%, compounded monthly. Determine the portion of payment applied to principal in the second month.



◦ $125.67
◦ $1211.84
◦ $126.67
◦ $150.40
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Marked as best answer by torybrooks on Jun 16, 2021

cupcake16

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Reply #1 on: Jun 16, 2021
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.
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torybrooks

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Reply 2 on: Jun 16, 2021
Great answer, keep it coming :)

Joy Chen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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