malacath4726 malacath4726

06-06-2023
Business

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The vendor of a property agrees to take back a $60,000 mortgage at a rate of 8% compounded semi-annually with monthly payments of $500 for a three-year term. Calculate the market value of the mortgage if financial institutions are charging 10% compounded semi-annually on three-year-term mortgages.

Question 1 options:

A. $41,557.55

B. $57,098.85

C. $60,000.00

D. $53,936.60

E. $59,111.11

Respuesta :

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