Long time ago Lisa had put an amount of $50,000 into an investment in the...
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Finance
Long time ago Lisa had put an amount of $50,000 into an investment in the securities market. Now she has $150,000 in her investment account.
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e) Lisa decided to borrow 350 000 from Commonwealth Bank to buy her new home. The bank offers Lisa the lending rate of 4.83% per year (compounding monthly) and she is expected to make an equal mortgage payment each month for 30 years. Calculate monthly payment Lisa need to make for the mortgage? (1.5 marks)
f) Lisa would like to buy some furniture for the new home. Good Home Furniture offered her the maximum payment credit for the furniture she can buy of $50 a week for one year. The annual interest rate of that commercial loan is 8.5%, assuming compounding weekly. How much furniture can Lisa afford to purchase using the credit offered by the store? (2 marks)
please answer urgently!!
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