Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A family has inherited $200,000 of they choose to invest the $200,000 in a factory at 8% on the quarterly basis, how many quaterly withdrawls kf $15,000 can be made from the factory?(Assume the first withdraw is made in the end of the first quarter?
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