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Dan is considering borrowing $375,000 to purchase a new condo. Based on that information, answer the following questions. Show all work. Calculate the monthly payment
Dan is considering borrowing $375,000 to purchase a new condo. Based on that information, answer the following questions. Show all work.
- Calculate the monthly payment needed to amortize an 8% fixed-rate 30-year mortgage loan.
- Calculate the monthly amortization payment if the loan in (a.) was for 15 years instead.
- In a few sentences, explain the effect of a smaller loan period. How does it influence the monthly payment and interest?
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Finance From Kaiser To Fuhrer Budget Politics In Germany 1912-1934
Authors: C. Edmund Clingan
1st Edition
0313311846, 9780313311840
