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You have purchased a house for $1,400,000 with a down payment of 20% of the purchase price. How much cumulative principal have you paid on
You have purchased a house for $1,400,000 with a down payment of 20% of the purchase price. How much cumulative principal have you paid on the mortgage after 18 months if the amortization period is 25 years and the nominal interest rate is 2.15%? Assume that interest is compounded semi-annually and payments are made monthly. $34,251 None of the options listed $69,243 $17,034 $51,653 The manager of a $1,000,000 mutual fund placed 70% of the fund's available cash in a low risk 3% annual interest account and the remaining 30% in a medium risk 6% annual interest account. How much interest will accrue across both accounts combined after 4 years? $261,392 None of the options listed $122,214 $212,960 O $190,235
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