Luis Rivera has taken out a mortgage loan for $225,000 at 4% for 5 years. What will be the total amount of interest paid? a. $27,706.34 b. $21,7567.33 c. $14,855.65 d. $18,566.47 e. $12,444.66

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A: The total interest paid on Omar's loan will be AED 1,037,884.58.Here's how to calculate it:Loan…

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Q: An investor purchased a house 10 mortgage loan for $300,000. The m of 5 percent compounded monthly…

A:

Q: Stephen has just purchased a home for $128000 A mortgage company has approved his loan application…

A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the…

Q: Suppose you borrowed $3,000 at a rate of 8.8% and must repay it in 4 equal installments at the end…

A: Present Value = pv = $3000Rate of Retunr = r = 8.8%Number of Payment = n = 4

Q: What is the effective annual interest rate on the loan? Car purchased for $29,000 with a 5 year loan…

A: Compound = n = Monthly = 12Interest Rate = r = 9%

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Q: Tom creates a 30-year mortgage of $150,000 with APR 5.6%, monthly paid.  What is the percentage he…

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Q: PLEASEEE THNAKS

A: The objective of this question is to find the periodic interest rate for a mortgage loan. The…

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A: Loan amount (LV) = $35000 Interest rate (i) = 8.1% Number of annual payments (n) = 4

Q: Richard Miyashiro purchas a condominium and obtained a 20-year loan of $197,000 at an annual…

A: Here,LoanAmount is $197,000Interest Rate is 8.15%Time Period is 20 years

Q: Laura received a 15 year loan of $240,000 to purchase a house. The interest rate or the loan was…

A: Data given: Loan=$240000  r=4% (compounded semi-annually) N=15 year nper=15*12=180     Working Note…

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Q: Andre Castello owns a savings account that is paying 2.5% interest compounded annually His current…

A: Current balance (P) = $ 7598.42 Annual interest rate (R) = 2.5% Period (N) = 5 Years