Question
A monthly amortizing, $ 100,000 fixed-rate loan amortizes fully in 30 years and has a contract rate of 6%.Total initial friction costs equal $ 6,000
A monthly amortizing, $ 100,000 fixed-rate loan amortizes fully in 30 years and has a contract rate of 6%.Total initial friction costs equal $ 6,000 . 1. What is the monthly payment?
2.The loan is pre-paid after 4 years. What is the loan balance?
3.What is the EBC, if no pre-payment penalties are applied?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
8th Canadian Edition
007133887X, 978-0071338875
