Question
A fully amortizing CAM loan is made for $129,000 at 6 percent interest for 20 years. Required: a. What will be the payments and balances
A fully amortizing CAM loan is made for $129,000 at 6 percent interest for 20 years. Required:
a. What will be the payments and balances for the first six months?
b. What would payments be for a CPM loan?
c. If both loans were repaid at the end of year 5, would the lender earn a higher rate of interest on either loan?
a.
| Total Payment | End Balance | |
| Month 1 | ||
| Month 2 | ||
| Month 3 | ||
| Month 4 | ||
| Month 5 | ||
| Month 6 |
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The Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
13th Global Edition
1292409487, 978-1292409481
