Question
George is looking for a fully amortizing 30-year Fixed Rate Mortgage with monthly payments of $4,500,000. He takes a 30-year fixed rate mortgage with 6.80%
George is looking for a fully amortizing 30-year Fixed Rate Mortgage with monthly payments of $4,500,000. He takes a 30-year fixed rate mortgage with 6.80% interest rate. Assuming George repays the mortgage after 5 years, what is his annualized IRR on the loan? Write your answer as a percentage rounded to two decimal places.
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Guardians Of Finance
Authors: James R. Barth, Gerard Caprio, Ross Levine
1st Edition
0262526840, 978-0262526845
