A house is acquired through Infonavit credit whose monthly payment is $9051.73 plus VAT and it is

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A house is acquired through Infonavit credit whose monthly payment is $9051.73 plus VAT and it is known that Infonavit credits are granted for 15 years at a compound interest rate of 6.42% semiannually compounded monthly.

a) How much is the total debt on the home.

b) Calculate the initial value of the home.

c) If the monthly payment is made of $14,272,888, how long will it take to pay off the home?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 05, 2023 03:00 AM

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A house is acquired through Infonavit credit whose monthly payment is $9051.73 plus VAT and it is

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Income Tax Fundamentals 2013

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