Assume you are considering a $1,000,000 mortgage at a quoted rate of 4.25%. If you want to
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Assume you are considering a $1,000,000 mortgage at a quoted rate of 4.25%. If you want to make equal monthly payments based on a 20-year amortization period, what discount rate would you use in the annuity present value formula to find the amount of your payments?
Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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