Question
ADD-ON LOANS vs SIMPLE INTEREST LOANS . You are borrowing $450,000 on a 15 year, 8.5% interest loan to buy a property. 17a ) What
- ADD-ON LOANS vs SIMPLE INTEREST LOANS. You are borrowing $450,000 on a 15 year, 8.5% interest loan to buy a property. 17a) What will the total interest be if it was an add-on interest loan?
17b) How much would the monthly payment be (for 30 years) if it was an add-on interest loan?
17c) What will the total interest be if it was a simple interest amortized loan?
17d) How much would be the monthly payment (for 15 years) if it was a simple interest amortized loan?
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
9th Edition
0324656122, 978-0324656121
