Question
A borrower is repaying a $31000 loan at 6.1%/year compounded monthly with monthly payments over 18 years. Just after the 54th payment he has the
A borrower is repaying a $31000 loan at 6.1%/year compounded monthly with monthly payments over 18 years. Just after the 54th payment he has the loan refinanced at 4.1%/year compounded monthly. If the number of payments remains unchanged, what will be the new monthly payment?
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Handbook Of Financial Planning And Control
Authors: Robert P. Greenwood
3rd Edition
0566083728, 978-0566083723
