The unpaid balance in an account on May 1 was $100 A purchase of $18 was made on May 9 A 505 payment was made on May 22 The finance charge rate was 1 25% per month of the age daly Find the new balance at the end of May OA. $170 00 OB $12325 OC. $104 OD. $124 02

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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.