Question
An investor obtained a mortgage loan of $800,000 to purchase a property at an annual interest rate of 4.5% compounded monthly and fully amortising over
An investor obtained a mortgage loan of $800,000 to purchase a property at an annual interest rate of 4.5% compounded monthly and fully amortising over 25 years. What is the monthly repayment amount of the loan?
a. none of the alternatives
b. $4,446.66
c. $53,951.22
d. $4,495.94
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
