Recent Posts • Latest Topics • Unanswered Questions

You have a line of credit loan with the Bank of Hong Kong. The initial loan balance was $7000.00. ...

ikrabbe

wrote...

Go to Answer

Posts: 324

Rep:

6 years ago

You have a line of credit loan with the Bank of Hong Kong. The initial loan balance was $7000.00. ...

You have a line of credit loan with the Bank of Hong Kong. The initial loan balance was $7000.00. Payments of $3000.00 and $2500.00 were made after four months and ten months respectively. At the end of one year, you borrowed an additional $4250.00. Seven months later, the line of credit loan was converted into a collateral mortgage loan. What was the amount of the mortgage if the line of credit interest was 8.52% compounded monthly?

Textbook

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

Read 313 times

4 Replies

Report

Replies

Answer verified by a subject expert

josan

wrote...

Posts: 360

Rep:

6 years ago

More solutions for this book are available here

Attached file

Thumbnail(s):

You must login or register to gain access to this attachment.

Report

Related Topics

Natsum2

wrote...

4 years ago

Thank you!

Report

Alex S.

wrote...

4 years ago

thank you

Report

chenzhen

wrote...

3 years ago

good information, thanks

Report

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

798 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

338

706

163

Your Opinion

Previous poll results: Does a gender wage gap exist in America?

Courses by Biology Forums

The Toxic Skin and Fungi Defense

Strange Ingredients Lurking in Doritos Chips

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.