Question
Clarence bought a $188 000 condo with a $28 000 down payment and took out a mortgage for the remaining $160 000 at 12 percent
Clarence bought a $188 000 condo with a $28 000 down payment and took out a mortgage for the remaining $160 000 at 12 percent nominal interest, compounded monthly. We determined that he would make 51 $4000 payments and then a final payment. What is his final payment?
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
18th edition
538479736, 978-1111534783, 1111534780, 978-0538479738
