$[0/1$ Points$]$

Determine the periodic payments PMT on the given loan or mortgage. $($Round your answer to the nearest cent.$)$

$$500,000$ borrowed $at8\%$ for $4$ years, with quarterly payments

Need Help?

$[-/1$ Points$]$

Determine the outstanding principal of the given mortgage. HINT $[$See Example $7.]($Assume monthly interest payments and compounding periods. Round your answer to the

nearest cent.$)$

$a$ $$100,000,32-$year, $4\mathrm{.}8\%$ mortgage after $10$ years

$

Need Help?