REAE Exam 2 – 3325 Questions and Answers 100% Correct
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Course
REAE
Institution
REAE
REAE Exam 2 – 3325 Questions and Answers 100% Correct
REAE Exam 2 – 3325 Questions and Answers 100% Correct
REAE Exam 2 – 3325 Questions and Answers 100% Correct
REAE Exam 2 – 3325 Questions and Answers 100% CorrectWhat is the future value of $4,900 deposited each year for 3 years ...
REAE Exam 2 – 3325 Questions and
Answers 100% Correct
What is the future value of $4,900 deposited each year for 3 years earning 6% per
year? - ANSWER-15,599.64
What is the future value of $4,900 deposited each year for 14 years in an account
earning 2% per year? - ANSWER-78,272.3
Compound interest can be explained as:
adding investments to a weak portfolio.
None of these adequately explain compound interest.
getting paid interest on your interest.
the process that causes investments to lose value over time. - ANSWER-getting paid
interest on your interest.
What is the APR on a 20 year, $400,000 loan at 5%, plus 3 points? - ANSWER-5.38
What is the APR on a 30 year, $200,000 loan at 4.5%, plus two points? - ANSWER-
4.67
What is the APR on a 30 year, $200,000 loan at 4.5%, with no points? - ANSWER-4.5
Given a $200,000 loan, monthly payments, 30 years at 3.75%, what is the balance after
48 months? - ANSWER-184426.34
Given a $200,000 loan, monthly payments, 30 years at 3.75%, how much interest is
paid on the 36th payment? - ANSWER-2,267.06 (wrong)
What is the monthly loan payment on a 20 year, $200,000 loan at 4.00%? - ANSWER-
1211.96
What is the payment on a 36 month, 2.99% car loan for $15,000? - ANSWER-436.15
What is the monthly loan payment on a 30 year, $100,000 loan at 4.25%? - ANSWER-
491.94
Given current interest rates, it is highly unlikely that the total interest cost on a long term
loan such as 30 year mortgage will be any greater than 1/4 of the loan amount.
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