If you buy a computer directly from the manufacturer for $2,241 and agree to repay it in 48equal installments at 1.7% interest per month on the unpaid balance, how much are your monthly payments?
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.
If you buy a computer directly from the manufacturer for $2,241 and agree to repay it in 48equal installments at 1.7% interest per month on the unpaid balance, how much are your monthly payments?
A $154,600 mortgage for 15 years for a new home is obtained at the rate of 9.7% compounded monthly. Find (a) the monthly payment, (b) the interest in the first payment, (c) the principal repaid in the first payment, and (d) the finance charge
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