Equal annual mortgage payments will you have to make

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Reference no: EM131583608

1. You buy a house for $50,000 today, paid 10 percent down, and financed $45,000 at 10 percent for 25 years, how much equal annual mortgage payments will you have to make?

A. $2,000

B. $3,249

C. $3,982

D. $4,258

E. $4,958

2. What is the present value of $1,000 received at the end of the 10th year from now if it is discounted at 10% annual interest rate with semi-annually compounding?

A. $149

B. $377

C. $386

D. $614

Reference no: EM131583608

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