Mathematics, 06.09.2021 21:30 andrejr0330jr

Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimated 3 months. The owner of the house they want to buy will not hold the house that long. Tina and Mike have two choices: let their dream house go or take out a bridge loan. The bridge loan would be for $85,000, at 8.5% simple interest, due in 120 days. a. How big of a check would they have to write in 120 days?
b. How much interest would they pay for this loan?

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Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimat...

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