Find the simple interest on a deposit

Reference no: EM131972915

Question: a) A family buys a new house for $350000. To do so, they get a 30-year mortgage a 4.81% interest, compounded monthly. Find their monthly payment.

b) Find the simple interest on a deposit of $6,000 that is left on deposit for 20 years at an annual rate of 2.5%.

Reference no: EM131972915

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