This preview shows page 1. Sign up to view the full content.
Unformatted text preview: A. Simple interest/discount B. Compound interest C. Ordinary Annuity/Sinking Fund D. Annuity Due E. Present value of an Annuity/Amortization 33. Kareem Adams buy a house for $285,000. He pays $60,000 down and takes out a mortgage at 6.9% on the balance. Find his monthly payment and the total amount of interest he will pay if the length of the mortgage is 15 years. Name this type of problem. A. Simple interest/discount B. Compound interest C. Ordinary Annuity/Sinking Fund D. Annuity Due E. Present value of an Annuity/Amortization...
View Full
Document
 Spring '08
 WRIGHT

Click to edit the document details