Question
Ianna has found a fixed rate mortgage for $300 000 at four percent interest amortized over 30 years. Her payment will be $1426 per month.
Ianna has found a fixed rate mortgage for $300 000 at four percent interest amortized over 30 years. Her payment will be $1426 per month. How much would her payment be if she wanted to amortize the mortgage over 15 years?
A) $2219
B) $1733
C) $2214
D) $1711
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
