Question
Bronson is going to buy a $328,400 house. He has $22,000 to use as a down payment. The interest rate is 6.6%, compounded monthly. Bronson
Bronson is going to buy a $328,400 house. He has $22,000 to use as a down payment. The interest rate is 6.6%, compounded monthly. Bronson goes to the bank and is approved for a 30-year mortgage, with monthly payments. At the end of 15, Bronson is going to sell the house and move to the B.C. coast. The house appreciates, on average, at a rate of 1.8% each year.
What is Bronson’s total cost, after selling the house?
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
