Maurice Tutor

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About Maurice Tutor

Levels Tought:
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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 21 Sep 2017 My Price 4.00

principal amount

5. A friend of yours has just purchased a house and has taken out a $50,000, 11 percent mortgage, payable at $476.17 per month. After making the first monthly payment, he received a receipt from the bank stating that only $17.84 of the $476.17 had been applied to reducing the principal amount of the loan. Your friend computes that, at the rate of

$17.84 per month, it will take over 233 years to pay off the

$50,000 mortgage. Do you agree with your friend’s analy- sis? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Sep 2017 09:09 PM My Price 4.00

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