If you had started a savings account that paid 4.5 percent, compounded monthly, and your deposits into the account were the same as the monthly payments calculated in Problem 8.28, how long would you have had to make payments in order to purchase the home for cash? (Assume the same down-payment amount was available as in Problem 8.28.)
You are buying a new home for $416 000. You have an agreement with the savings and loan company to borrow the needed money if you pay 20 percent in cash and monthly payments for 30 years at an interest rate of 4.15 percent compounded monthly.
(a) What monthly payments will be required?
(b) How much principal reduction will occur in the first payment?
(c) Prepare a spreadsheet that will show each payment, how much of each will go to principal and how much to interest, the current balance, and the cumulative interest paid.
(d) Repeat steps (a), (b), and (c) for interest rates of 3.75, 4.00, 4.25, 4.50, 4.75 and 5.00 percent. Work as a team if approved by your instructor.
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Four methods of electrical interlocking are available.
Answer the following statement true (T) or false (F)
Windshield washer pump can be damaged if?
a. trying to move windshield wipers when the reservoir is empty
b. trying to fill washer fluid when the reservoir is empty
c. trying to spray washer fluid when the fluid reservoir is empty
d. trying to spray washer fluid when the coolant reservoir is empty
e. none of the above
-31.82 ÷ 3.7 =
A) -8.6 B) 8.6 C) -35.53 D) None of these
Which of the following most accurately describes the goal of Rome’s military expansion during the Republican period?
a. conquest of the known world b. land, resources, and territorial integrity c. control of the Mediterranean trade routes d. access to the wealth of Asia