Question
12. you are borrowing $1 million to buy your dream home, taking a 30 -year mortgage at 6% per year and undertaking to make equal
12. you are borrowing $1 million to buy your dream home, taking a 30 -year mortgage at 6% per year and undertaking to make equal monthly payments at the end of each month for 30 years to amortize the loan. What is your monthly payment, interest portion of your first payment and principal portion of your first payment?
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Corporate Finance Reader
Authors: Robert W. Kolb
2nd Edition
1878975536, 978-1878975539
