A $270,000 house in Hamilton was purchased with a down payment of 20.00% of its value and a 25 year mortgage was taken for the balance. The negotiated fixed interest rate was 3.75% compounded semi-annually for a three-year term, with repayments made at the end of every month. Calculate the size of the monthly payments. Complete the partial mortgage schedule for the three-year term, rounding the answers to the nearest cent.
A $270,000 house in Hamilton was purchased with a down payment of 20.00% of its value and a 25 year mortgage was taken for the balance. The negotiated fixed interest rate was 3.75% compounded semi-annually for a three-year term, with repayments made at the end of every month.
Calculate the size of the monthly payments.
Complete the partial mortgage schedule for the three-year term, rounding the answers to the nearest cent.
General Computers Inc. purchased a computer server for $73,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 7.00% compounded semi-annually. It made payments of $2,600.34 at the end of every quarter to settle the loan.General Computers Inc. purchased a computer server for $73,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 7.00% compounded semi-annually. It made payments of $2,600.34 at the end of every quarter to settle the loan.
How many payments are required to settle the loan?
fill in the partial amortazion schedule
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