Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

#1 O Derek borrows $277,960.00 to buy a house. He has a 30-year mortgage with a rate of 5.90%. After making 150.00 payments, how

image text in transcribedimage text in transcribed

#1 O Derek borrows $277,960.00 to buy a house. He has a 30-year mortgage with a rate of 5.90%. After making 150.00 payments, how much does he owe on the mortgage? Submit Answer format: Currency: Round to: 2 decimal places. Derek borrows $33,815.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.17%. What will the payments be? Submit Answer format: Currency: Round to: 2 decimal places. 86 Suppose you deposit $1,054.00 into an account 4.00 years from today that earns 10.00%. It will be worth $1,971.00 years from today. Submit Answer format: Number: Round to: 2 decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Math

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

10th edition

133011208, 978-0321924308, 321924304, 978-0133011203

More Books

Students also viewed these Finance questions

Question

What is organizational buying? (p. 211)

Answered: 1 week ago

Question

12. What is the basis for setting tolerance?

Answered: 1 week ago