Wednesday

July 23, 2014

July 23, 2014

Posted by **Hank** on Monday, May 2, 2011 at 9:59pm.

(a) Find the monthly payment.

$ 1

(b) Determine the total cost over the life of the loan.

$ 2

(c) Suppose maintenance fees for this condo are $400 per year. Find the annual cost of the condo over the life of the loan. Assume that the annual maintenance fees remain constant.

$ 3

(d) Use (c) and the 10% down payment to determine the average annual cost for having this vacation condo for 1 week over the life of the loan.

$ 4

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