Suppose you bought a house for 50,000,000 by paying 15% down payment. Make Amortization table by using
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Suppose you bought a house for 50,000,000 by paying 15% down payment. Make Amortization table by using this information. Assuming there is no fees and payment is on annual basis. Please use PMT formula to calculate Payment:
1. Original Interest rate is 10% for first two years.
2. Then next two years Interest rate is 8%
3. Then for rest of the period Interest rate drops to 6%
4. You need to pay every year original payment as you paid for 10% interest
Amortize it for 15 year and see how many years it will take for you to finish the mortgage?
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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