Question
Decreasing the number of years of a loan decreases the amount of interest repaid over the term of the loan. Suppose a dental hygienist has
Decreasing the number of years of a loan decreases the amount of interest repaid over the term of the loan. Suppose a dental hygienist has the option of a 30-year loan or a 25-year loan of $385,000 at an annual interest rate of 4.75%.
(a) Calculate the monthly payment (in dollars) for each loan. (Round your answers to the nearest cent.) -30-year loan -25-year loan
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Real Estate Finance And Investments
Authors: William Brueggeman, Jeffrey Fisher
17th Edition
1264072945, 978-1264072941
