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A 30-year fully amortizing mortgage loan was made 10 years ago for $80,000 at 6 percent interest. The borrower would like to prepay the mortgage
A 30-year fully amortizing mortgage loan was made 10 years ago for $80,000 at 6 percent interest. The borrower would like to prepay the mortgage balance by $11,000. Required: a. Assuming he can reduce his monthly mortgage payments, what is the new mortgage payment? b. Assuming the loan maturity is shortened and using the original monthly payments, what is the new loan maturity
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Public Finance Lessons From The Past And Effects On The Future
Authors: Miguel-Angel Galindo Martin
1st Edition
1629481491, 978-1629481494
