Question: Very E asy Finance Questions. Please Help and answer all parts Question 7 (1 point) Listen You are buying a house and you are financing
Very Easy Finance Questions. Please Help and answer all parts




Question 7 (1 point) Listen You are buying a house and you are financing the purchase with a mortgage of $218,000. The mortgage has a 30 year term and requires monthly payments. The mortgage charges an interest rate of 0.2% every month. What is the total interest payment over the life of the mortgage? Your Answer: Answer Question 8 (1 point) Listen You are buying a car and you are financing the purchase with a loan of $22,300. The loan has 60 months term and requires monthly payments. The loan charges an interest rate of 0.4% every month. What is the total interest payment over the life of the mortgage? Your Answer: Answer Question 9 (1 point) Listen You are buying a car and you are financing the purchase with a loan of $32,500. The loan has 36 months term and requires monthly payments. The loan charges an interest rate of 0.3% every month. What is the monthly payment? Your Answer: Answer Question 10 (1 point) Listen You owe $6,600 to a credit card. You decide to pay more than the minimum required and you want to repay the balance in 66 months. The loan charges an interest rate of 0.8% every month. What is the total interest payment over the life of the loan? Your
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