Question
Arya borrowed $400,000 using a 35-year, partially amortizing, constant payment mortgage with interest rate of 9% p.a. compounded monthly. The balloon payment due at maturity
Arya borrowed $400,000 using a 35-year, partially amortizing, constant payment mortgage with interest rate of 9% p.a. compounded monthly. The balloon payment due at maturity equals $100,000.
The lender charges a loan origination fee of $12000, but agrees to finance the fee.
The monthly payment for Arya equals $ _______
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Personal Finance A Practical Approach
Authors: Jane King, Mary Carey
1st Edition
0199668833, 9780199668830
