Question
Can someone please help me to solve it. I do not the how this correct answer came. How much would Doug save in interest if
Can someone please help me to solve it. I do not the how this correct answer came.
How much would Doug save in interest if he amortized his mortgage over 15 years, rather than 25 years, and assuming he makes monthly payments. The total mortgage amount is $290,000 and the interest rate is 2.3% compounded semi-annually.
Correct Answer: 38,214.4 3
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
0444535942, 978-0444535948
