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.
The Unisam University group in Peru, recently bought 70 Lenovo brand Core i7 touchscreen high-definition ultrabook personal computers so that the classrooms of the Faculty of Business Sciences are adapted to technology. Said purchase was financed by a line of credit with a computer equipment supplier and the total amount of $126,500.00, the acquired debt will be amortized through 8 equal quarterly payments. Find the value of the payment (installment) if the interest rate is 24.5% compounded quarterly and build the respective amortization table
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
