You borrow $ 120,000 with a 30-year term at a 9% (APR) variable rate and the interest
Question:
(a) What is the initial monthly payment?
(b) If the lender's interest rate is 9.75% (APR) at the end of five years, what will the new monthly payments be?
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Given P 120000 N 360 months i 9 12 075 per month a A 120000 ...View the full answer
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