Question
Calculating the Total Interest Payment for a negative amortizing CPM: $100,000 Mortgage 7% Interest 30 Years Monthly Payments 110% unpaid loan balance at maturity Answer
Calculating the Total Interest Payment for a negative amortizing CPM:
$100,000 Mortgage
7% Interest
30 Years
Monthly Payments
110% unpaid loan balance at maturity
Answer is 217,049.1 but need help with work!!!!
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
