Use Tables 12-1 and 12-2 from Your Text to Answer

question 30

Short Answer

Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Jay Murphy purchased a parcel of land for $1,200,000 with a 20% down payment and the remainder amortized over an 18-year period, at 10% interest.
A)What equal semiannual payments are required to amortize this loan over 18 years?
B)What is the amount of total interest paid on this loan over the 18 years?

• A)What equal semiannual payments are required to amortize this loan over 18 years?
• B)What is the amount of total interest paid on this loan over the 18 years?

---

Definitions:

CVS

Short for Chorionic Villus Sampling, a prenatal test that involves taking a sample of the chorionic villi to test for fetal abnormalities.

Prenatal Test

Medical tests conducted during pregnancy to assess the health and development of an unborn baby.

Phenotype

The observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Genotype

The genetic makeup of an organism or individual, consisting of both the genes that are visible in traits and those that are not.