Question: just the last one please The second file is for a client named Toomes, who also has a mortgage with the bank. The details you
The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan are as follows: Current loan outstanding: $859,000 Current monthly repayment: $2890 Next repayment: Due exactly 1 month from now Interest rate on loan: 112 =3% Using this information, determine the following: How much interest is Toomes charged for the coming month? Do NOT include a dollar sign in your answer. Answer: What will be Toomes' loan outstanding after 1 month, immediately after the payment due on that day? Do NOT include a dollar sign in your answer. Answer: What is the loan outstanding after 1 year? Give your answer to the nearest cent, and do NOT include a dollar sign
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
