5.9 Fifteen years means 180 months. Then Mortgage payment 100,000 180-month annuity factor 100,000 83.32 = $1,200.17
Question:
5.9 Fifteen years means 180 months. Then Mortgage payment 100,000 180-month annuity factor 100,000 83.32 = $1,200.17 per month $1,000 of the payment is interest. The remainder, $200.17, is amortization.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
2+ Reviews
10+ Question Solved
Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
Question Posted:
