Question
A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $77,000.00 for 29 years at 6.7% compounded monthly,
A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $77,000.00 for 29 years at 6.7% compounded monthly, and will make monthly payments of $502.27. (Round all answers to 2 decimal places.)
What is the unpaid balance after 10 months? $
During this time period, how much interest did she pay? $
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The Handbook Of Mortgage Backed Securities
Authors: Frank Fabozzi
6th Edition
0071460748, 978-0071460743
