Question
6. You want to purchase a $170,000 house. You can put 10% down but will have to take out a loan to finance the house.
6. You want to purchase a $170,000 house. You can put 10% down but will have to take out a loan to finance the house. The bank quoted a rate of 5.5% APR for a 30-year fixed rate loan.
(C) How much interest will you pay over the life of the loan (assume the 5.5% APR)?
(D) How much will you owe at the end of 20 years?
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
10th Edition
0201785676, 9780201785678
