Calculate the monthly house payment

Reference no: EM1362596

1. Find the monthly house payment necessary to amortize the following loan.In order to purchase a home, a family borrows $267,000 at 10.8% for 15 yr. What is their monthly payment? Round the answer to the nearest cent.

A.$3394.52
B.$19,108.39
C.$3001.27
D.$2403.00
E. Not given

2. Find the payment necessary to amortize the loan. $2200; 12% compounded quarterly; 8 quarterly payments
A) $313.48
B) $282.55
C) $442.87
D) $313.40
E) not given

3. Lou has an account with $10,000 which pays 7% interest compounded annually. If to that account,Lou deposits $5,000 at the end of each year for 4 years, find out the amount in the account after the last deposit.

A) $35,307.68
B) $22,199.72
C) $34,999.72
D) $32,199.72
E) not given

Reference no: EM1362596

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