Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 A -C down below thank you ! Derek borrows $289,012.00 to buy a house. He has a 30-year mortgage with a rate of

Question 1 A -C down below thank you !

image text in transcribed

Derek borrows $289,012.00 to buy a house. He has a 30-year mortgage with a rate of 4.78%. After making 133.00 payments, how much does he owe on the mortgage? Submit Answer format: Currency: Round to: 2 decimal places. Derek borrows $40,966.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.65%. What will the payments be? Submit Answer format: Currency: Round to: 2 decimal places. Derek borrows $43,778.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.21%. After a 10.00 months Derek decides to pay off his car loan. How much must he give the bank? Submit Answer format: Currency: 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

Financing California Real Estate Spanish Missions To Subprime Mortgages

Authors: Lynne P. Doti

1st Edition

184893601X, 978-1848936010

More Books

Students also viewed these Finance questions