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Michael has a total of $2000 on deposit with two saving institutions. One pays interest at the rate of 6% per year whereas the other pays interest at a rate of 8% per year. If Michael earned a total of $144 in interest during a
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Mr. and Mrs. Fox have each contributed $1825.00 per year for the last eight years into RRSP accounts earning 6.93% compounded annually. Suppose they leave their accumulated contributions for another five years in the RRSP at the
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Katie invested a total of $6000 , part at 3 % simple interest and part at 4 % simple interest. At the end of 1 year, the investments had earned $214 interest. How much was invested at each rate?
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Michael Perez deposited a total of $4000 with two savings institutions. Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest at the rate of 8%/year. If Michael earned a total of $308 in interest during a
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Robin, who is selfemployed, contributes $5500/year into a Keogh account. How much will he have in the account after 35 years if the account earns interest at the rate of 2.5%/year compounded yearly? (Round your answer to the
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a borrower received a 30 year ARM mortgage loan for 200,000. Rate caps are 3/2/6 the start rate is 3.50% AND the loan adjusts every 12 months for the life of the mortgage, The index used for this mortgage is LIBOR which for this
asked by lAURA on May 19, 2018 
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Case: A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6. The start rate is 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this mortgage is LIBOR (for
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What advantages does a roth IRA have over the traditional IRA? A. With a roth you take care of taxes ahead of time and end up with more money to spend at retirement. B Unlike the traditional IRA, with a roth you don't pay taxes
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As a fringe benefit for the past 8 years, Colin's employer has contributed $50 at the end of each month into an employee retirement account for Colin that pays interest at the rate of 8%/year compounded monthly. Colin has also
asked by Tammie on October 22, 2016 
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"A woman borrows $6000 at 9% compounded monthly, which is to be amortized over 3 years in equal monthly payments. For tax purposes, she needs to known the amount of interest paid during each year of the loan. Find the interest
asked by Norah on September 25, 2011
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