For total yearly payments of $10000 for 10 years, compare the compound am ted at the end of 10 years if the payments are (a) end-of-year, (b) weekly, c) ntinuous. The nominal (annual) interest is 20 percent and payments are uniform.
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.
For total yearly payments of $10000 for 10 years, compare the compound amount accumulated at the end of 10 years if the payments are (a) end-of-year, (b) weekly, c)daily and d) continuous. The nominal (annual) interest is 20 percent and payments are uniform.
Notice: If you can't find exponent (x), you can use the value 0.6
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