You just borrowed $225,000 to purchase a new house. The monthly payment (before taxes and insurance) is
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You just borrowed $225,000 to purchase a new house. The monthly payment (before taxes and insurance) is $1791 for the 25-year loan. What is the effective annual interest rate?
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To find the effective annual interest rate on a loan you can use the formula for calculating the ann...View the full answer
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Related Book For
Analysis Synthesis And Design Of Chemical Processes
ISBN: 9780134177403
5th Edition
Authors: Richard Turton, Joseph Shaeiwitz, Debangsu Bhattacharyya, Wallace Whiting
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