Mike bayles has just arranged to purchase a $400,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has an 8 percent stated annual interest rate, compounded monthly, and calls for equal monthly payments over the next 30 years. his first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8.there were no other transaction costs or finance charges. how much will mike's balloon payment be in eight years?

As manager of kids skids, meghan wants to develop her relationship management skills. in order to do this, she learns how to

The simple interest in a loan of $200 at 10 percent interest per year is

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.