Question
CACULATE IN EXCEL IF YOU CAN ' Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original
CACULATE IN EXCEL IF YOU CAN
'
Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $140,000 and was obtained five years ago with monthly payments at 10 percent interest. The loan was to be fully amortized over 30 years.
- What should SMPC pay if it wants an 11 percent return?
- How would your answer to part (a) change if SMPC expected the loan to be repaid after an additional five years?
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Are You Legal A Personal Legal Audit And Empowerment Tool
Authors: Nelson P. Miller
1st Edition
099055533X, 978-0990555339
