Question
13. You decide to take a 30 year mortgage of $150,000 offered by the bank of montreal. Instead of making the monthly payment of $957.68
13.
You decide to take a 30 year mortgage of $150,000 offered by the bank of montreal. Instead of making the monthly payment of $957.68 every month, you can make half the payment every two weeks ( so that you will make 52/2=26 payments a year). How long will it take to pay off the mortgage if the EAR on the loan is 6.80%?
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Fixed Income Securities Valuation Risk and Risk Management
Authors: Pietro Veronesi
1st edition
0470109106, 978-0470109106
