The effective mortgage rate for a 30-year mortgage at 6% interest compounded monthly, with three discount points,
Question:
(a) 5.5%.
(b) 6.2%.
(c) 6.56%.
(d) 9%.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
c New P 100000 3000 97000 The mortgage ha...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
Question Posted:
Students also viewed these Statistics questions
-
The effective mortgage rate for a 30-year mortgage at 9% interest compounded monthly, with two discount points, that is expected to be kept for 7 years is (a) 9%. (b) 8.5%. (c) 9.4%. (d) 10%.
-
1. Find the APR on a 30-year mortgage of $250,000 carrying a stated interest rate of 6% compounded monthly and having two points. 2. Find the effective mortgage rate for a 25-year $140,000 mortgage...
-
Assume that the loan amount is $100,000 and confirm your answer by calculating sums as in Example 9. 1. The effective mortgage rate for a 30-year mortgage at 5.71% interest compounded monthly with...
-
A quality improvement program has been instituted in an organization to reduce total quality costs. Discuss the impact of such a program on prevention, appraisal, and failure costs.
-
Suppose the random variables X, Y, and Z have the joint probability density function fXYZ (x, y, z) = c over the cylinder x2 + y2 < 4 and 0 < z < 4. Determine the following. (a) The constant c so...
-
In the academic year 1997-1998, two random samples of 25 male professors and 23 female professors from a large university produced a mean salary for male professors of $58,550 with a standard...
-
What are some of the major ways that information technology is helping MNEs overcome the problems of time and space?
-
Biotechtron, Inc., has two research laboratories in the Southwest, one in Yuma, Arizona, and the other in Bernalillo, New Mexico. The owner of Biotechtron centralized the legal and accounting...
-
Sa Let a population consist of the values 10 cigarettes, 11 cigarettes, and 21 cigarettes smoked in a day. Show that when samples of size 2 are randomly selected with replacement, the samples have...
-
Financial information from fiscal year 2016 for two companies competing in the cosmetics industryThe Este Lauder Companies and e.l.f. Beauty Inc.appears in the table below. All dollar values are in...
-
1. Traditional IRA Carlos is 60 years old, is in the 45% marginal tax bracket, and has $300,000 in his traditional IRA. How much money will he have after taxes if he withdraws all of the money from...
-
Give the two Excel formulas that can be used to obtain the APR and the effective mortgage rate for the mortgage. When calculating the effective mortgage rate, assume that the mortgage will be held...
-
TripAdvisor has realised its reviews are valuable, yet many of the sites users never logged in. They simply read the reviews, but never contributed. To resolve this, the site created a content gate...
-
Which of the following is not a user of internal accounting information? a. Store manager. b. Chief executive officer. c. Creditor. d. Chief financial officer.
-
What problems might arise ifEDP specialists make all the decisions in determining what systems and applications should be installed in the computer complex?
-
Describe at least three benefits of an oral report.
-
What questions to ask a witness in a deposition?
-
What authority should internal auditors be accorded in terms of corrective action?
-
(a) Find an equation of the tangent line to the curve y = e x that is parallel to the line x 4y = 1. (b) Find an equation of the tangent to the curve y = e x that passes through the origin.
-
Can partitioned join be used for r r.A s? Explain your answer
-
Find an equation of the tangent line to the curve at the given point. 21. y = tan x, (7/4, 1) 22. y = e* cos x, (0. 1) 1 sin x + coS X (0, 1) 23. y = x + cos x, (0, 1) 24. y-
-
(a) Find an equation of the tangent line to the curve y = x cos x at the point (, ). (b) Illustrate part (a) by graphing the curve and the tangent line on the same screen.
-
(a) Find an equation of the tangent line to the curve y = x sec x 2 cos x at the point (/3, 1). (b) Illustrate part (a) by graphing the curve and the tangent line on the same screen.
-
Kumara Corporation reported pretax book income of $1,530,000. Kumara also reports an increase in the taxable temporary differences of $327,500, an increase in the deductible temporary differences of...
-
Slumlord Floyd is getting a lot of complaints from tenants about how little care he takes of his rental property. Floyd ends up having several deductions disallowed under the Substandard Housing...
-
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. February 2 Wrote a $360 check to...
Study smarter with the SolutionInn App