Solved

A Customer Has a First Mortgage of $100,000 at 5

Question 339

Multiple Choice

A customer has a first mortgage of $100,000 at 5.5% and a second mortgage of $50,000 at 7.8%. What is the average rate of mortgage that the customer pays?


A) 6.7%
B) 7%
C) 5.9%
D) 6.5%
E) 6.3%

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q56: Evaluate the answer correct to the

Q174: Evaluate the following:<br> <span class="ql-formula" data-value="\frac{\$

Q310: Evaluate the following accurate to the

Q334: Calculate the final value of the

Q335: What percent of $950 is $590 accurate

Q336: A manufacturing operation began with 85 staff

Q340: A homeowner's tax statement lists the following

Q341: Jane took six courses last semester. Her

Q342: If the percent Rate is 1,000%, what

Q344: Evaluate <span class="ql-formula" data-value="\frac{\$ 1500\left(1+0.055