Laurel wants to buy a property with a first mortgage of $626,000 at 5% compounded semi-annually, not
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Laurel wants to buy a property with a first mortgage of $626,000 at 5% compounded semi-annually, not in advance, and a second mortgage of $130,000 at 6.5% interest compounded semi-annually, not in advance. What is the average mortgage rate for the two mortgages (rounded to one decimal place)?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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