Question
1) Suppose you would like to buy a house that costs $400,000 and you have 10% as a down payment. You can get a 30-year
1) Suppose you would like to buy a house that costs $400,000 and you have 10% as a down payment. You can get a 30-year loan to pay for the remaining balance with a 4% APR. How much would you pay in interest over the life of the loan? [Round the final answer to the nearest cent]
2) Suppose you would like to buy a house that costs $400,000 and you have 10% as a down payment. You can get a 30-year loan to pay for the remaining balance with a 4% APR. What is the recovery point in years to pay down 25 basis points for $4,500? [Round the final answer to two decimals]
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Principles Of Finance With Excel
Authors: Simon Benninga
2nd Edition
0199755477, 9780199755479
