Question
1. The monthly payments for a $100,000 loan at an interest rate of 6% per annum amortized over 30 years is $599.55. What is the
1. The monthly payments for a $100,000 loan at an interest rate of 6% per annum amortized over 30 years is $599.55. What is the loan constant for the first year?
2. If the above loan were amortized over 25 years instead of 30 years, the monthly payments would be $644.30. What would the constant for the first year of the loan be?
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Financial Statement Analysis & Dividend Investing
Authors: Andrew P.C.
1st Edition
1075873940, 978-1075873942
