Unformatted text preview: Write an expression for the lump sum of money you deposit now in order to fund these annual tuition fee payments. 2. You’ve just bought a house worth $250,000 here in West Lafayette. As part of the mortgage deal, you have to make a down payment of 20% now. The remaining amount must be paid in equal annual installments for 30 years at the rate of 6% compound interest per year. Write an expression for your annual mortgage payments. Please write any concerns/comments on the back....
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This note was uploaded on 02/07/2012 for the course IE 343 taught by Professor Vincent,g during the Spring '08 term at Purdue.
- Spring '08