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Lerok [7]
2 years ago
14

Nancy would like to double the money in her retirement account in five years. According to the rule of 70, what rate of interest

would she need to earn to attain her objective?
Business
1 answer:
frutty [35]2 years ago
5 0

Answer:

70/annual percentage

70/5=14

Explanation:

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The appraised value of the house is after calculating interest and the value is $86,250.

<h3>What is appraised value?</h3>

A qualified appraiser or valuer's assessment of the assessed value of the real property is what is meant by an appraised value or mortgage valuation. It is typically utilized as a pre-qualification criterion and risk-based pricing component in connection with a financial institution's issuance of mortgage loans.

Calculation of appraised value of the house:

  1. First, calculate the yearly interest. $5,520 in interest total every year ($460 x 12).
  2. Take a loan for $69,000 at an interest rate of.08 on $5,520.
  3. Next, subtract $86,250 from $69,000 to get the appraised value.

Hence, the total appraisal value is $86,250.

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