Question
A couple has just purchased a home for $333,300.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has
A couple has just purchased a home for $333,300.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten them a mortgage rate of 4.80% APR with monthly compounding. The mortgage has a term of 30 years.
What is the monthly payment on the loan?
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Public Finance
Authors: Richard W. Tresch
4th Edition
0128228644, 978-0128228647
