Question
A mortgage broker purchased two trust deeds for a total of $270,000. One trust deed earns 9% simple annual interest, and the second one earns
A mortgage broker purchased two trust deeds for a total of $270,000. One trust deed earns 9% simple annual interest, and the second one earns 12% simple annual interest. If the total annual interest from the two trust deeds is $29,400, what was the purchase price of each trust deed?
| 9% trust deed | $ |
| 12% trust deed | $ |
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Understanding Housing Finance
Authors: Peter King
2nd Edition
0415432952, 978-0415432955
