Question
a)A mortgage loan of $100,000 is to be repaid with monthly instalments of $783.36 at an interest rate of 4.5% per annum. Find the: i)
a)A mortgage loan of $100,000 is to be repaid with monthly instalments of $783.36 at an interest rate of 4.5% per annum.
Find the:
i) The number of monthly payments and hence the term of the loan
ii) The total interest charged.
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Entrepreneurial Finance
Authors: J . chris leach, Ronald w. melicher
4th edition
538478152, 978-0538478151
