# . (TCO 3) You have been approved for a $70,000 loan toward the purchase of a new home at 15% interest. The mortgage is for 30 years. How much are the…

. (TCO 3) You have been approved for a $70,000 loan toward the purchase of a new home at 15% interest. The mortgage is for 30 years. How much are the approximately annual payments of the loan? Hint: Assume you pay yearly. (Points : 3)$7425$8690$9203None of the above2. (TCO 3) First Choice Bank pays 9% APR compounded quarterly on its business loans. National Emerald Bank pays 16% APR compounded daily. The EAR for First Choice and National Emerald Bank are: (Points : 3)9.31% and 17.35%, respectively9% and 17.50%, respectively9.31% and 17.50%, respectively9% and 17.35%, respectively3. (TCO 3) ABC Electronics is considering an investment that will have cash flows of $16,000, $5,000 and $4,000 for years 1 through 3. What is the approximate value of this investment today if the appropriate discount rate is 9% per year? (Points : 3)$23,250$27,250$21,970None of the above4. (TCO 3) You deposited $8,000 in your bank account today. An increase in which of the following will increase the future value of your deposit assuming that all interest is reinvested? Assume the interest rate is a positive value. Select all answers that apply: (Points : 4)interest rateinitial amount of your depositfrequency of the interest paymentsNone of the above will increase the value of the investment5. (TCO 3) If you borrow $50,000 today at 10% interest for eight years. How much of your second payment will be applied towards the principal of the loan? (Points : 3)$5,000$4,372$4,809can not be determined with the information given 6. (TCO 3) Match the following terms with the examples as appropriate:(Points : 4)AnswerThe post . (TCO 3) You have been approved for a $70,000 loan toward the purchase of a new home at 15% interest. The mortgage is for 30 years. How much are the… appeared first on topgradeassignments.org. “Is this question part of your assignment? We Can Help!”