Question
Consider a $180000 30-year fixed-rate mortgage with a nominal interest rate of 6%. suppose that after paying the first 12 monthly payments, the borrower decides
Consider a $180000 30-year fixed-rate mortgage with a nominal interest rate of 6%. suppose that after paying the first 12 monthly payments, the borrower decides that she cannot pay more than $900 per month. determine the number of months necessary to pay off the mortgage.
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Introduction To Finance Financial Management And Investment Management
Authors: Pamela P. Drake, Frank J. Fabozzi, Francesco A. Fabozzi
1st Edition
9811239657, 978-9811239656
