In order to pay for school, you borrow $22,000 at 12 percent/year compounded monthly. You do not pay back any of it until the end of the first month following year 4, and you intend to have it paid off by the end of year 7. a. What are your monthly payments during years 5, 6, and 7? b. How much interest is in the sixtieth month’s payment? How much principal? c. How much interest is in the sixty-fourth month’s payment? How much principal? d. How much interest is in the sixty-eighth month’s payment? How much principal? e. You are doing very well after graduation and decide to pay off the loan in full at the time you make your twentyfourth payment in the seventy-second month. For how much do you write the check, including the twentyfourth payment?
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The larger the investment you make, the easier it will be to: get money from other sources. guarantee cash flow. buy insurance. streamline your products.
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Which term best fits the sentence? is the process of reasoning, analyzing, and making important decisions. it’s an important skill in making career decisions. a. critical thinking b. weighing pros and cons c. goal setting
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Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?
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In order to pay for school, you borrow $22,000 at 12 percent/year compounded monthly. You do not pay...
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