Question: please round off to the nearest 4 decimal place thank you You are buying a house and need to borrow $150,000 (mortgage) today from the
You are buying a house and need to borrow $150,000 (mortgage) today from the bank to pay for it. The terms of the mortgage are as follows: 30 years, annual payments (with the first one occurring one year from today), an interest rate of 3.5% per year, and nothing owned at the end. What is the annual payment that the bank expects you to pay them? Please list the values you input in the financial calculation, e.g. N=,1/Y=,PV=, or the formula, etc. Just giving a final number in the answer will not get full credit even if it is correct. Please show how you get the
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