PLease provide a FULL breakdown of each question and show work for Each STEP. Th

Question

PLease provide a FULL breakdown of each question and show work for Each STEP. Thank you

3. You purchase supplies for $170,225 and you pay $1,400 down. You agree to pay the remainder with monthly payments over a period of 6 years at a rate of 8.5% compounded monthly. Four years into the loan your creditor agrees to settle the debt at a rate of 6.9% compounded monthly. What payment is required?

4. You purchase a house for $225,000 and pay $50,000 down. You get a 25 year 6.9% compounded monthly mortgage for the balance. What is your equity (owner

Explanation / Answer

Assets= Liabilities + Owner's Equity

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