2) Suppose you invested $1000 per quarter over a 15 year period. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period. How much is the interest earned?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
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2) Suppose you invested $1000 per quarter over a 15 year period. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period. How much is the interest earned?
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