If you could pay for your mortgage forever, how much would you have to pay per month
Question:
If you could pay for your mortgage forever, how much would you have to pay per month for a $1,000,000 mortgage, at a 6.5% annual interest rate? Work out the answer:
(a) If the 6.5% is an APR and
(b) If the 6.5% is an effective annual rate of return.
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Monthly APR 054 Mont...View the full answer
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