1 a family takes out a mortgage for 28720000 from the local, Ask an Expert

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1. A family takes out a mortgage for $287,200.00 from the local bank. The loan is for 30 years of monthly payments at a 5.76% APR (monthly compounding). What will the family’s balance be on the mortgage after 6.00 years?

2. By the condition of a will, the sum of P20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if fund invested at 8% compounded quarterly?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92799974

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