Question
A student wants to buy a house that worth $240,000. This student put done $40,000 down payment and borrow the rest from a bank with
A student wants to buy a house that worth $240,000. This student put done $40,000 down payment and borrow the rest from a bank with interest rate 3.5% per year for 15 years compounded monthly. What is the monthly payment to the bank? How much interest the student will pay to the bank in 15 years?
Correct answers are $1,429.77 and $57.357.71 how do I get that?
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Personal Finance Turning Money Into Wealth
Authors: Arthur Keown
8th Edition
0134730364, 978-0134730363
