subject
Mathematics, 25.06.2021 19:00 austind9027

mortgage 7. Ato Bekele is thinking of buying a G+2 building 5 years form now on a basis. The building will be used for office purpose for his new business that costs Br. 500,000. The required down payment is Br. 100, 000, with monthly mortgage payment for 30 years at a rate of 12% compounded monthly. To cover the down payment Bekele has established a sinking fund account in Dashen Bank, which pays 10% interest compounded quarterly. Required: a) How much Bekele should deposit at the end of every quarter to meet the objective of the down payment? (2Pts) b) Determine the amount of monthly mortgage payment to be made to discharge the mortgage within 30 yrs. (3Pts) c) What is the amount of total interest paid on the mortgage? (2Pts) d) What is the total amount paid over the entire period of the mortgage? (3Pts)​

ansver
Answers: 2

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 18:30, alizeleach0123
Which representation has a constant of variation of -2.5
Answers: 1
image
Mathematics, 21.06.2019 18:30, letsbestupidcx7734
Two cyclists 84 miles apart start riding toward each other at the samen time. one cycles 2 times as fast as the other. if they meet 4 hours later what is the speed (in miles) of the faster cyclists
Answers: 2
image
Mathematics, 21.06.2019 22:10, goodygoodgirlygirl
Akitchen is 12 ft. by 14 ft. with 10 ft. high walls. how much would it cost to put vinyl flooring in this room? $8.80 per ft
Answers: 1
image
Mathematics, 21.06.2019 22:30, Lukejohn
Which term below correctly completes the following sentence? if a function has a vertical asymptote at a certain x value, then the function is what at that value
Answers: 1
You know the right answer?
mortgage 7. Ato Bekele is thinking of buying a G+2 building 5 years form now on a basis. The buildin...

Questions in other subjects:

Konu
Mathematics, 25.02.2021 18:10