At what nominal annual rate of interest compounded semi-annually will a $135 000 mortgages are amortized by

Question:

At what nominal annual rate of interest compounded semi-annually will a $135 000 mortgages are amortized by monthly payments of $1023.12 over 15 years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 04:11 AM

See More Questions

What nominal annual rate of interest compounded semi-annually is equivalent to an effective rate of 6.37%?
What is the nominal annual rate of interest compounded semi-annually if a four- year loan of $6000 is repaid by monthly payments of $144.23?
What is the nominal annual rate of interest compounded monthly that is equivalent to 8.5% compounded quarterly?
1. Based on a simple, constant context, you will arrive at a stationary state for a unregulated, and then a regulated system. Assume that air resistance and friction for a car increase in the power...
Apparently, depression significantly increases the risk of developing dementia later in life (BBC News, July 6, 2010). In a recent study it was reported that 22% of those who had depression went on...
What are some of the difficulties in providing services in an online environment? What factors differentiate the services sector from the retail sector, for example?
Suppose $F(S, t)$ is the forward price of a commodity with no storage cost and governed by $\mathrm{d} S(t)=\mu \mathrm{d} t+\sigma \mathrm{d} z$ and terminating at time $T$. What is the...
On January 14, the end of the first bi-weekly pay period of the year, Rockin Companys payroll register showed that its employees earned $14,000 of sales salaries. Withholdings from the employees...
Tesla has a capital structure of $75 million debt, $228 million equity, and $303 million in assets. Last year, the company reported a net income of $67 million. What is Tesla's return on equity?...
Assume that you are purchasing an investment and have decided to invest in a company in the digital phone business. You have narrowed the choice to Digitalized Corp. and Zone Network, Inc. and have...
A mortgage of $95 000 is amortized over 25 years by monthly payments of $573.25. What is the nominal annual rate of interest compounded semi-annually?
A $28 000 mortgage is amortized by quarterly payments over 20 years. The mortgage is renewable after 3 years and interest is 6% com- pounded semi-annually. (a) What is the size of the quarterly...
Why is principled negotiation superior to other negotiating strategies?
1 2 3 4 5 6 7 8 An ARM assembly code consists of following instructions: MOV R5, #10 MOV R4,0x500 L1: LDR R1, [R4] ADD R5, R5, #4 CMP R5, #18 BLT L1 ADD R2, R3, #10 CMP R2, #30 Assume that LDR...
Convert each character in the input string to its opposite case, please use memory addresses to get each character of the input string. Q2: (20 points) logic XOR operation has an interesting...
19. Construct the flowchart and algorithm of the following problem: A fishing fleet fishes in 10 different regions each consisting of 8 different areas. The data about the fish caught in kilograms...
Using Mesh Analysis, find the currents I, I2 and Is in the network shown in Figure 2.b. 10V 4A 12.2 ww1 122 22 8V Figure 2.b Circuit for question no. 2(b)
Please use given Income Statement and Balance Sheet to develop Statement of Cash Flow. Balance Sheet As of Dec. 31, 2020 Assets Cash and Equivalents Accounts Receivable Inventory Total Current Assets...
In Exercises find the interval of convergence of the power series. (Be sure to include a check for convergence at the endpoints of the interval.) n=0 (-1) xn (n + 1)(n + 2)
Assume you are the accountant for Catalina Industries. John Catalina, the owner of the company, is in a hurry to receive the financial statements for the year ended December 31, 20X1, and asks you...
In problem, find f (x). f(x) = ln x8
In problem, find f (x). f(x) = 4 + ln x9
In problem, find f (x). f(x) = ln x10 + 2 ln x
Respond to the ethical scenario o r respond to the presentation in a Global Table. All responses should be one full page that is typed and double-spaced. Ethical scenarios 1.Recently, Professor...
1.Explain why senior management might overstate or understate business performance. 2.Identify and explain three methods financial statement fraudmay be committed. 3.Explain how fictitious revenue...
What results have researchers found on what therapy is better clinical psychology therapists or positive psychology therapists?

At what nominal annual rate of interest compounded semi-annually will a $135 000 mortgages are amortized by

Question:

Step by Step Answer:

PVnc 135 00000 PMT 137069 n 1215 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions