Question
6. A 100,000.00 mortgage has a 25-year amortization, at 3% interest compounded annually with a monthly mortgage payment. How much are the monthly mortgage payments?
6. A 100,000.00 mortgage has a 25-year amortization, at 3% interest compounded annually with a monthly mortgage payment. How much are the monthly mortgage payments? After 5 years (60 months) how much is the outstanding balance? How much interest has been paid to the lender?
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Advances In Entrepreneurial Finance
Authors: Rassoul Yazdipour
2011th Edition
148998190X, 978-1489981905
