#4 Derek borrows $290,966.00 to buy a house. He has a 30-year mortgage with a...
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#4 Derek borrows $290,966.00 to buy a house. He has a 30-year mortgage with a rate of 5.54%. After making 131.00 payments, how much does he owe on the mortgage? Submit Answer format: Currency: Round to: 2 decimal places unanswered not_submitted Attempts Remaining: 5 #4 A bank offers 10.00% on savings accounts. What is the effective annual rate if interest is compounded monthly? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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