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Posts by Nieda

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Math Help Please!!!
A couple purchased a house and signed a mortgage contract for $110,000 to be paid in “every second week “ installments over 25 years, at 3.0 %. The contract stipulates that after 3 years the mortgage will be renegotiated at the new prevailing rate of interest. ...

Math Help!!!!!
4) Jim has been offered a substantial cash discount if he pays an invoice 60 days earlier. One bank will loan him the needed money at 11% simple interest rate. A second bank will also loan him the money, but at bank discount rate. What is the maximum discount rate that Jim can...

Math Help Please!!!
2) Eight months ago, Louise agreed to pay Thelma $750 and $950 six and twelve months, respectively, from the date of the agreement. With each payment Louise agreed to pay interest at the rate of 9.5% pa. from the date of the agreement. Louise could not follow the agreement, ...

Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of i) simple interest at 12%, or ii) a loan at 10% compounded monthly. Which loan results in less interest due ? b) What interest rate compounded quarterly will give an effective interest rate of 7% ?

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