Question
a.You are planning to apply for a 30-year mortgage for a house that costs $300,000. If you put 20% down and your APR is 8%
a.You are planning to apply for a 30-year mortgage for a house that costs $300,000. If you put 20% down and your APR is 8% with monthly compounding, what is your monthly payment?
b.What if you took out a 15-year mortgage instead (all the other numbers are the same as part a)
answers
a. 1761
b.2293.6
those are answers and i want how to compute them
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The Wealthtech Book The FinTech Handbook For Investors Entrepreneurs And Finance Visionaries
Authors: Susanne Chishti, Thomas Puschmann
1st Edition
1119362156, 978-1119362159
