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An FI funds $5M mortgage, which is 30-year fixed term with annual mortgage rate equal to 6%. Mortgage payments are monthly. Suppose there is
An FI funds $5M mortgage, which is 30-year fixed term with annual mortgage rate equal to 6%. Mortgage payments are monthly. Suppose there is no prepayment, how much is the interest component in the last month when the mortgage is fully paid off?
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
