You borrow $ 1,000,000 from the bank at a 6.5% interest rate per year. You will pay

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You borrow $ 1,000,000 from the bank at a 6.5% interest rate per year. You will pay this in monthly payments for 30 years, given this is a mortgage.

What is the monthly payment for this loan?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Oct 19, 2023 12:51 AM

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You borrow $ 1,000,000 from the bank at a 6.5% interest rate per year. You will pay

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To calculate the monthly payment for a loan you can use the formula for the ... View the full answer

Personal Finance

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