Question
Based on the following information, what would the monthly payment be for each month of the second year of the loan? Loan amount: $622,000 30
Based on the following information, what would the monthly payment be for each month of the second year of the loan?
Loan amount: $622,000
30 year loan with monthly payments
First year interest rate: 6%
Second year interest rate: 8%
Multiple Choice
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$4,545.94
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$6,220.00
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$3,729.20
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$4,564.02
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None of the other answers are within $1 of the correct answer
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
2nd Edition
0131471988, 978-0131471986
