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Drill Problem 15-4 [LU 15-1 (3)] Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per
Drill Problem 15-4 [LU 15-1 (3)]
Use the following amortization chart:
| Selling price of home | Down payment | Principal (loan) | Rate of interest | Years | Payment per $1,000 | Monthly mortgage payment | ||||
| $ 78,000 | $ 4,000 | $ 74,000 | 5.5% | 30 | $ 5.68 | $ 420.32 | ||||
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Inside And Outside Liquidity
Authors: Bengt Holmstroem, Jean Tirole
1st Edition
0262518538, 9780262518536
