Question
Compute the balance, at 10 1/4 years, on a $145,000, 8.75%, 30 year mortgage, assuming monthly compounding. Get PMT first. P/YR = 12 PV=-145,000, I/YR=8.75,
Compute the balance, at 10 1/4 years, on a $145,000, 8.75%, 30 year mortgage, assuming monthly compounding.
Get PMT first.
P/YR = 12
PV=-145,000, I/YR=8.75, N=30*12=360, PMT = 1,140.716
1 INPUT (you can enter anything except zero for input)
123 AMORT (10.25*12)
a. 123,852.333
b. 125,521.257
c. 126,528.559
d. 128,479.625
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
