Determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5%

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Determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5% and an initial principal of $200,000. How much interest is paid over the life of the loan?

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Construction accounting and financial management

ISBN: 978-0135017111

2nd Edition

Authors: Steven j. Peterson

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Question Posted: Mar 27, 2013 06:54 AM

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Determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5%

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Using Eq 163 to find the monthly interest rate we get the f...View the full answer

Construction accounting and financial management

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