Emily wants to purchase a condo in Toronto with a mortgage. The present value of the...
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Emily wants to purchase a condo in Toronto with a mortgage. The present value of the condo is $800,000. She paid the down payment of $150,000 now followed by equal monthly payment with 24% APR compounded monthly for 20 years. What's the monthly payment that Emily needs to pay each month for the 20-year period? Emily wants to purchase a condo in Toronto with a mortgage. The present value of the condo is $800,000. She paid the down payment of $150,000 now followed by equal monthly payment with 24% APR compounded monthly for 20 years. What's the monthly payment that Emily needs to pay each month for the 20-year period?
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