Question
Hello, The question asks You just borrowed 100,000 to buy a condo. You will repay the mortgage in equal monthly payments of 804.62 over the
Hello,
The question asks" You just borrowed 100,000 to buy a condo. You will repay the mortgage in equal monthly payments of 804.62 over the next 30 years. What monthly interest rate are you paying on the mortgage? What is the effective annual rate on that mortgage?"
How would I calculate the interest rates with my calculator function "ICONV"? I know there are formulas for said conversion but would like to improve my calculator skills. Please let me know!
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
