Fourteen years and three quarters ago, you took out a 30- year loan of $300,000. The loan
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Fourteen years and three quarters ago, you took out a 30- year loan of $300,000. The loan has a 5.5% APR with semi-annual compounding. What is the ratio of payment that goes towards interest payment on the loan in the past year?
Related Book For
Financial Management Theory And Practice
ISBN: 978-0176583057
3rd Canadian Edition
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
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