Question: SHOW YOUR WORK! NO WORK SHOW IS ZERO POINT EVEN IF THE FINAL ANSWER IS CORRECT! Chapter 3 and 4 Time Value of Money Question

SHOW YOUR WORK! NO WORK SHOW IS ZERO POINT EVEN IF

SHOW YOUR WORK! NO WORK SHOW IS ZERO POINT EVEN IF THE FINAL ANSWER IS CORRECT! Chapter 3 and 4 Time Value of Money Question 1. (10 points) You've just bought your first house! To finance the purchase, you borrowed at the following terms: loan amount = $500,000, interest rate = 7.2% per year, term = 30 years. What are the monthly payments associated with this loan? Rate 7,2% 0 1 500.00 Question 2. (10 points) You decided to sell the house (from question 1) 5 years after the purchase for $600,000. After you pay off the bank for your outstanding mortgage, how much money will be left to you

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