The cash price of a small house is $40,000. The owner of the house agrees to sell

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The cash price of a small house is $40,000. The owner of the house agrees to sell you the house in return for your promise to pay $5000 down and $1,000 at the end of each month.

If the annual mortgage interest rate is 4.8%, how long will it take for you to pay the balance and interest?

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Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

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Question Posted: May 23, 2013 05:14 AM

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The cash price of a small house is $40,000. The owner of the house agrees to sell

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Computation of the no of period Given information Cash price 40000 Down payment 5000 Balance a...View the full answer

Intermediate Microeconomics

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