Question
URGENT 28. A family takes out a mortgage for $291,000.00 from the local bank. The loan is for 30 years of monthly payments at a
URGENT
28. A family takes out a mortgage for $291,000.00 from the local bank. The loan is for 30 years of monthly payments at a 5.04% APR (monthly compounding). What will the familys balance be on the mortgage after 7.00 years?
29. An investor contributes $598.00 per quarter in an account that pays 6.56% APR with quarterly compounding. The first contribution will be made next quarter. What is the future value of this account in 7.00 years?
30.
An investor plans the following investments for the next 10 years: 7.00 years of $10,598.00 per year, and 3.00 years of $12,512.00 per year
He thinks his investments will earn 6.00% a year for the first 7.00 years, and then earn 11.00% per year for the last 3.00 years. What is the future value of his account after the 10th year? (assume end of period payments)
WILL THUMBS UP
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