Can someone help me? Use the following information. When "trading up," it is preferable to sell your old house before buying your new housebecause that allows you to use the proceeds from selling your old house to buy your new house. When circumstances donot allow this, the homeowner can take out a bridge loan.Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimated 4 months. The ownerof the house they want to buy will not hold the house that long. Tina and Mike have two choices: let their dream house goor take out a bridge loan. The bridge loan would be for $78,000, at 8.5% simple interest, due in 120 days. (Round youranswers to the nearest cent.)(a) How big of a check would they have to write in 120 days?(b) How much interest would they pay for this loan?

Name: Can someone help me? Use the following information. When "trading up,"
Uploaded: 2024-03-20T07:07:37.000Z
Channel: Bartleby
Description: Can someone help me? Use the following information. When "trading up," it is preferable to sell your old house before buying your new housebecause that allows you to use the proceeds from selling your old house to buy your new house. When circumstanc