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Exactly ten years ago you bought a house and you financed part of the price by taking out a mortgage of $135,000,000.- The terms of
Exactly ten years ago you bought a house and you financed part of the price by taking out a mortgage of $135,000,000.- The terms of the mortgage were monthly installments for 25 years. The interest rate was 8.4% per year, compounded monthly, fixed during the term of the loan. What is the effective monthly interest rate? and What is your monthly payment?
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International Financial Management
Authors: Jeff Madura
3rd Edition
0314862722, 978-0314862723
