Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which ratio(s) will lenders generally consider when deciding whether or not to give you a mortgage loan? b. Emergency Fund Ratio c. 28% and 36%

  1. Which ratio(s) will lenders generally consider when deciding whether or not to give you a mortgage loan?

b. Emergency Fund Ratio

c. 28% and 36% Ratros

d. Savings Ratio

e. 50% Ratio

f. Wage Replacement Ratio

2.A deposit of $10,000 saved in a CD for 1 years compounded at 3% daily will be worth (select the closest answer)

a. $10,000

b. $10,302.

c. $10,305.

d. $10,310.

e. $10,315.

3.A lump sum deposit of $8,000 left in the bank for 1 year at 9% compounded annually will result in an ending balance of (select the closest answer)

a. $8,270.

b. $8,520.

c. $8,720.

d. $8,820

e. $8,000.

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_2

Step: 3

blur-text-image_3

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

Financial Markets and Institutions

Authors: Jeff Madura

12th edition

9781337515535, 1337099740, 1337515531, 978-1337099745

More Books

Students also viewed these Finance questions

Question

Express the zeros of f(x) = x 2 6x + 13 as complex numbers.

Answered: 1 week ago

Question

Define paraphrasing and reflecting.

Answered: 1 week ago

Question

What are the various types of physical ability?

Answered: 1 week ago