Idaho BS thread in the PNW

i thought ben lived in Boise??

 

thats me derp.

 

Hey Mark! I need some help with one of my Engineering Econ problems, You're a business major right? haha

A couple sells their home. In addition to cash, they accept a mortgage that will be paid in monthly payments of $450 for 50 months. The couple decides to sell the mortgage to a local bank. The bank will buy the mortgage, but it requires a 1% per month interest rate charge on the bank's investment. How much will the bank pay for the mortgage?

Isn't the interest rate just extra information here and the bank just pays the couple $22,500 (450x50)?


EDIT: Just had a thought. Or does it mean that they are going to not change the $450 per month for 50 months but calculate out what a 1% interest would be on that futureworth and only pay them the present worth of it? So the bank basically only pays the people $17,638 for the mortgage, and the other $4861 will be what they would make on a $17638 loan at 1% for 50 months. How's that sound? haha...

 

Here's one more for you, I'll just sum it up:

8% interest compounded quarterly
$400 is added every quarter for 25 years
How much in in the account at the end of 25 years?
A) $50,000
B) $75,000
C) $100,000
D) $125,000


Let me know what you come up with. haha. I can't decide if my formula in the book is just screwy or what... My number is interesting.

 

it's not what you say but how you say it..

 

We have 4 tie rod ends. There is an inner and an outer on each side. It must be all that slalom racing you been doing Ben.

You are gonna pass me sooner than Id thought.

 

Shit passed me Ben.

 

True..

I think im still at117. Wow..just around 11k in 5 years..

I don't drive it much now thou either

 

I just passed 122K last week. But now my odo/speedo need calibrating.

 

You only drove 11K in the last 5 years? I've put over 40K on my car in the 6 years I have owned it and I didn't think I drove much. haha. I have put over 10K on the taco in the year I have had it though... Damn wheeling trips! haha

 

http://www.youtube.com/watch?annota...6D2048AB81F&src_vid=0sKRRY5tQz8&v=H2ftVPk-WZw

 

Yea well Powell is small to get around in and less then 100 miles for camping

 

That makes me want to do a Star Wars Marathon. It has been too long since I have watched them. haha

 

Speaking of starwars. I was listening to an interview of Mark Hamel about all of his voice over work in cartoons. Aparently he has done almost all of the cartoon voices for the joker in all of the animated batman cartoons since '92. Thats crazy!

And also that him, Carrie Fischer and Harrison Ford. Are all going to be in starwars 7 too. Cant wait for 2014!

Oh yeah.... will get my gear set and master install kit tomorrow. I wil be tearing out my 3rd member tomorrow after work...ill post some pics of the carnage.

 

FTW

 

I average 11K a year but the first year i got it i put 24K on it.

 

Unfortunately, its not as simple as swapping a speedo gear. That only works on older gen tacomas with a speedo cable. Starting with the '98 models, they went to digital ODOs and the speedo is fly by wire.

The data stream from the ECU has to be modified to correct the error. Its about an 88% error.

 

damn I would like to have some of your guys's gas bills! I drove 21,000 miles last year!

 

Waaa??

In that article it says it works on 98-04 and has to be tweaked to work on mine..

You sure yours isn't mechanical?

 

No you don't. I may have driven little..but I get HORRIBLE mpg haha