Answer the following questions correctly. a. The interest is computed on the principal and on the accumulated past interest . a. Compound Interest b. Interest c. Simple interest d. rate
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.
Answer the following questions correctly.
a. The interest is computed on the principal and on the accumulated past interest .
a.
b. Interest
c. Simple interest
d. rate
b. Which of the following are NOT true?
I. Principal is the money given or paid invested in the origin date
II. Origin date is a date on which money is paid by the borrower.
III. Interest is an amount or earned for the use of the money
IV. Simple Interest is an interest that is computed on the principal and then added to it.
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