Your banker suggests that, rather than obtaining a 30-year mortgage, you should simply obtain a 15-year loan
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Question:
Your banker suggests that, rather than obtaining a 30-year mortgage, you should simply obtain a 15-year loan for the same amount. The rate on this loan is 3.75% APR. How much is the monthly payment?
House cost= 220,000
Down Payment 50,000
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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