MATH 246 Quiz: Quiz 1 Solutions Fall 2009
14 Mar 2019
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The answers on this exam are entirely my own work. I neither gave nor received any aid while taking this exam. You have 3 hours to take this exam. Please remember to write your name legibly on every page. This exam will be graded out of 160 points. The number in parentheses for each question is the amount of points assigned to the question. The exam has 7 questions and 16 pages, including this page. A couple of weeks ago i looked into refinancing my mortgage. A slick mortgage broker told me the following tale. I"ve changed the numbers, but the rest of this is true. Sure, you could afford the monthly payments of ,905. 82 on a 15-year mortgage with a. But i have a better deal for you. Take out a 30-year mortgage at a 4 percent annual interest rate.
