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Instructions: ANSWER ONLY 8 questions on separate pages and submit them before the deadline. Each question has equal value. Show your work as discussed during
Instructions: ANSWER ONLY 8 questions on separate pages and submit them before the deadline. Each question has equal value. Show your work as discussed during the lectures. Do not round off any intermediate calculations. Final dollar answers should be rounded to two decimal places. Unless otherwise indicated, final interest rate answers should be rounded to 6 decimal places if expressed as a decimal or 4 decimal places if expressed as a percent. You do not need to show trailing zeros" (i.e., if no non-zero digits remain, 2.5% will do instead of 2.500000%) but make certain there are none. Include a timeline for obtain part-marks in the event that you misinterpret the problem. Please contact me at (787) 504-0077 if you have any questions. 1. To help pay for your new house you have approached the bank for a 25-year, $95,000 mortgage. The bank quotes you a rate of 6.6365% per year (they don't tell you, but you know that this rate is stated annually but compounds monthly). Immediately after you have made the payment at the end of the fifteenth year, what is the amount of principal remaining to be paid on the mortgage
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