David Saks: January 2015

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 3911

math

A loan was granted in the amount of $135,000.

The annual rate of interest n the loan was 5.5%.

What is the amount of a semi-annual interest payment ?

Take your time. The solution is below the wildlife photo.

wildlife

A. $3712.50

Find the annual interest payment by multiplying 5.5% or .055 times $135,000.

The anuual interest is $7425.

If we're looking for a sem-annual payment, divide $7425 by 2 and we now have $3712.50, the semi-annual interest payment.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • January 19 2015 12:48AM
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