[kchau81us]

A new minivan was purchased for $24,400 and currently has an end-of-year book value of $20,081.20 after one year of operation. Find the year's rate of depreciation. What will be the end-of-year book value of this minivan after two years if the rate of depreciation remains the same and depreciation is based on the purchase price?

[kchau81us]

Fin the monthly payment on a home mortgage of $219,275 at 5.265% interest for 30 year

[kchau81us]

Bob Owen is closing a real estate transaction on a farm in Yocona, Mississippi, for $385,900. His mortgage holder requires a 25% down payment and he also must pay $60.00 to record the deed, $100 in attorney's fees for document preparation, and $350 for an appraisal report. Bob will also have to pay a 1.5% loan origination fee. Bob chooses a 35-year mortgage at 7%. Bob needs over $100,000 cash to close on the property.
A) True
B) False