Algebra
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In a discount interest loan, you pay the interest payment up front. For example, if a 1year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby
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A borrower received a 30year ARM mortgage loan for $120,000. Rate caps are 3/2/6 (first adjustment/subsequent adjustments/total over the life of the loan). The start rate was 3.50% and the loan adjusts every 12 months for the
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Determine the total in Dexter's account after the second month using the information below. Dexter Banler's account Principal: $1,604 Rate: 10% compound Length of period: month >$3208.00 $1764.40 $1630.85 3. Ray Sugar's account
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Determine the total in Dexter's account after the second month using the information below. Dexter Banler's account Principal: $1,604 Rate: 10% compound Length of period: month $3208.00 $1764.40 $1630.85 3. Ray Sugar's account
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