Entries by Hannah Wangui

annual interest rate

Question Suppose you take out a 30-year mortgage for a house that costs $402228. Assume the following:The annual interest rate on the mortgage is 4.2%.The bank requires a minimum down payment of 14% at the time of the loan.The annual property tax is 1.6% of the cost of the house.The annual homeowner’s insurance is 1% of the […]

 

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Annual interest rate

Question Suppose you take out a 20-year mortgage for a house that costs $280765. Assume the following:The annual interest rate on the mortgage is 4%.The bank requires a minimum down payment of 16% at the time of the loan.The annual property tax is 1.6% of the cost of the house.The annual homeowner’s insurance is 0.8% of the […]

 

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annual interest rate

Question Maria takes out a 30-year mortgage for $192045 at an annual interest rate of 3.3%. How much does she still owe when there is 1 year left on the loan?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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Abe and Beth own a room-painting service in Canada

Question Abe and Beth own a room-painting service in Canada. If Beth works alone, she can paint 2 rooms in 5 hours. If Abe works alone, he can paint 6 rooms in 8 hours. When they work together, they charge $CAD223 per room. If they work together, how many hours will they need to work in order to […]

 

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