Calculate your loan balance just after making payments

Assignment Help Financial Management

Reference no: EM131959844

1. You borrowed $290,000 to purchase a home using a fifteen year mortgage with a stated rate of 3.125 percent per annum, and monthly payment. Calculate your loan balance just after making payments for six years.

A. $231,822

B. $189,968

C. $207,967

D. 184,009

2. What is the future value of $10,000 invested at 6.0% , compounded monthly for 5 years ?___

A) $ 13,000.0

B) $ 12,875.2

C) $ 13,488.5

D) $ 18,167.3

Reference no: EM131959844

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