Answer:
$336.88
Explanation:
Interest adjustment refers to a one time interest payment that must be paid by the buyer for the accrued interest between the day when the sale was closed and the end of the month. In this case, we are told to use a 360 day year, that means that all months will have 30 days. Therefore, the number of days of July will be 14, not 15.
total interest for 14 days = $157,500 x 5.5% x 14/360 = $336.875 = $336.88
3eyy1ggh mi y
1uj gyrju3hxif2 2x ce I I b I 6x9
Answer:
C - Monthly payments must be made for 30 years.
D - The annual interest rate is 4.8 percent.
E - The homeowner is borrowing $200,000.
Explanation:
Got It Right On Edge :)
