The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

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Answer 1

Question

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

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Answer 2

Question

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

Expert Solution & Answer

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Answer 3

Question

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

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Answer 4

Question

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

Expert Solution & Answer

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Answer 5

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

Answer 6

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

Answer 7

Chapter 6.5, Problem 35E

(a)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

Answer 8

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

Answer 9

(b)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

Answer 10

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

Answer 11

(c)

To determine

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 6.1 - CHECKPOINT 1. What is the simple interest...Ch. 6.1 - CHECKPOINT 2. If $8000 is invested at 6% simple...Ch. 6.1 - CHECKPOINT 3. If a $2500 investment grows to $2875...Ch. 6.1 - Prob. 4CP Ch. 6.1 - CHECKPOINT 5. Given the arithmetic sequence...Ch. 6.1 - Prob. 1E Ch. 6.1 - SIMPLE INTEREST In Problems 1-4, find the...Ch. 6.1 - SIMPLE INTEREST In Problems 1-4, find the...Ch. 6.1 - Prob. 4E Ch. 6.1 - 3. $10,000 is invested for 6 years at an annual...

The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

Solution Summary: The author calculates the amount needed to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%.

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To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5% if a loan of $15000 at 8.0% versus 8.5% both compounded monthly for 4 years.

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 6.75% and 7.25% which compounded monthly for 30 years.

To calculate: The amount needs to pay monthly and total interest that has paid during the life of loan and figure out difference made on a loan due to 0.5%, if a mortgage took loan of $80,000 at 8% and 8.5% which compounded monthly for 30 years.

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