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OpenStudy (anonymous):
Colleen and Bill have just purchased a house for $150,000, with the seller holding a second mortgage of $50,000 plus all accrued interest 5 years from now. How much would they pay if 11 1/4% interest was compounded monthly?
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OpenStudy (anonymous):
A=P(1+r/n)^rt =(150,000+50,000)(1+.1125/12)(.1125)(5) I dont have a calculator with me:(
OpenStudy (anonymous):
thank you so much! and its okay i have one :)
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