You are considering borrowing $150,000 to purchase a new home. a. Calculate the monthly payment needed to
Question:
You are considering borrowing $150,000 to purchase a new home.
a. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan.
b. Calculate the monthly amortization payment if the loan in (a) was for 15 years
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a Total payments 15 x 12 180 Monthly interest rate 0812 0667 ...View the full answer
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Jinah Patricia Padilla
Had an experience as an external auditor in Ernst & Young Philippines and currently a Corporate Accountant in a consultancy company providing manpower to a 5-star hotel in Makati, Philippines, Makati Diamond Residences
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Related Book For
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
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