Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
g
2
2
b
2
M
2
V
2
f
2
c
2
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
majarm majarm
wrote...
Go to Answer
Posts: 406
Rep: 0 0
6 years ago
A mortgage balance of $137 960.70 is to be repaid over an eleven-year term by equal monthly payments at 8.1% compounded semi-annually. At the request of the mortgagor, the monthly payments were set at $1140.00.
a)   How many payments will the mortgagor have to make?
b)   What is the size of last payment?
c)   Determine the difference between the total actual amount paid and the total amount required to amortize the mortgage by the contractual monthly payments.
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 84 times
1 Reply
Replies
Answer verified by a subject expert
AxyAxy
wrote...
#1
Posts: 349
Rep: 153 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

majarm Author
wrote...

6 years ago
Correct Slight Smile TY
emilyas19
wrote...

Yesterday
Thanks
54321abs
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  370 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1051
  
 142
  
 251
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 486
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?