In our mortgage example, suppose I need to borrow $200,000 for 15 years. If my maximum payments

Question:

In our mortgage example, suppose I need to borrow $200,000 for 15 years. If my maximum payments are limited to $2,000 per month, how high an annual interest rate can I tolerate?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: