Question
A commercial bank will loan you $338,556 to for 30 years to buy a house. The loan (or house mortgage) requires monthly installments at the
A commercial bank will loan you $338,556 to for 30 years to buy a house. The loan (or house mortgage) requires monthly installments at the end of each month. The annual interest rate on the loan is 10.4% compounded monthly. What is the amount of the monthly payment?
Please round your answer to the second decimal without dollar sign. E.g. 1.11
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The Financial System Financial Regulation And Central Bank Policy
Authors: Thomas F. Cargill
1st Edition
1107035678, 9781107035676
