#5 A couple is buying their dream house for $494,050.00. They will put 20.00% down and...
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#5 A couple is buying their dream house for $494,050.00. They will put 20.00% down and finance the rest with a 30.00-year mortgage with monthly payments. The bank has offered them a loan with 5.28% APR and monthly compounding. What will be their monthly payment on this mortgage? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint #5 A couple is buying their dream house for $494,050.00. They will put 20.00% down and finance the rest with a 30.00-year mortgage with monthly payments. The bank has offered them a loan with 5.28% APR and monthly compounding. What will be their monthly payment on this mortgage? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint
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Answer rating: 100% (QA)
Hint You can use the formula for monthly payment on a mortgage M P r 1rn 1rn 1 W... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Posted Date:
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