Tuesday

September 2, 2014

September 2, 2014

Posted by **susie** on Monday, May 2, 2011 at 10:38pm.

A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the debt with semiannual payments over the next 12 years. The interest rate on the debt is 11%, compounded semiannually. (Round your answers to the nearest cent.)

(a) Find the size of each payment.

$ 1

(b) Find the total amount paid over the life of the loan (including the down payment).

$ 2

(c) Find the total interest paid over the life of the loan.

$ 3

**Answer this Question**

**Related Questions**

math - The problem describes a debt to be amortized. A man buys a house for $350...

Tax Planning - Grand Rapids Company paid $250,000 cash in full settlement of a $...

consumer math grade 12 - jesse buys a 150 000 house and will make a 30 000 down ...

math - solve the problem the national debt is $$44,280,000,000 and the ...

math - Suppose the U.S. federal debt was $9,400,000,000,000. Let's say that the ...

math - the national debt of a small country is 6,680,000,000 and the population...

Economics (36) - For borrowers with good credit scores, the mean debt for ...

Economics (36) - For borrowers with good credit scores, the mean debt for ...

Statistics (36) - For borrowers with good credit scores, the mean debt for ...

Math - A man bought a house for 76,000. he made a down payment of 26,000 and ...