Question
1a) Exciting times for Leo and Lia: They have found their dream home and are with the sellers agreed upon an amount of EUR 600,000.
1a) Exciting times for Leo and Lia: They have found their dream home and are with the sellers agreed upon an amount of EUR 600,000. Now they have to decide which mortgage they want to take to finance the house and they ask you to help them. Now they are considering the following funding: An annuity mortgage for the full amount of 600,000 euros with a term of 20 years with monthly payments (to be paid at the end of each month). For this mortgage, the annual nominal interest equal to 2.1% Calculate the amount they have to pay monthly with this mortgage. 1b) Now calculate the monthly amount if the situation described in task a changes with the fact that the monthly payment should not be paid at the end but at the beginning of each month turn into. If you were unable to complete exercise a, or if you do not trust your answer for exercise a, do this statement under the assumption that the monthly payment in statement a was equal to 3000 euros.
(please just do b part of this Question urgently and perfectly.)
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