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2. You plan to purchase a $175,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 7.75
2. You plan to purchase a $175,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 7.75 percent. You will make a down pay- ment of 20 percent of the purchase price. (LG 7-4) 4. A $10,000 - 5 year bond has a coupon rate of 6.5% semi-annually. Yesterday it was rated triple B with a market rate of 7.15%. Today it was upgraded to single A with a market rate of 6.4% A. What was yesterday's bond price? B. What is today's bond price
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