Multiple Choice
A Motel is converting its rooms into privately owned condominiums. The interest on a $4,900,000, 30-year construction loan is $100,000. What is the rate of interest? Does the rate seem unreasonable?
A) 5.70%; reasonable
B) 1.40%; unreasonable
C) 4.20%; reasonable
D) 0.07%; unreasonable
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q82: <span class="ql-formula" data-value="\text { Express } \frac
Q83: Kelly bought a new SUV for
Q84: The closing price of a stock is
Q85: What was the highest price that
Q86: Amy had an unpaid balance of $811.75
Q88: A house is purchased for $391,000 with
Q89: A $1750 loan is to be paid
Q90: Find (a) the discount, (b) the
Q91: A car seat cover with an original
Q92: Find the annual earnings per share.