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Jeehario J. Sane as Scenario T except loan amount is $125,000 3-40. Suppose you make monthly mortgage payments of $2,545 and have 10 years left
Jeehario J. Sane as Scenario T except loan amount is $125,000 3-40. Suppose you make monthly mortgage payments of $2,545 and have 10 years left on the mortgage (next payment due next month). Assuming a 6.6% stated annual inter est rate for the mortgage, how much would you need today to pay off the mortgage? Also, how much interest would you owe on the next mortgage payment? Find the rates of return required to do the following: a. Double an investment in 4 years b. Double an investment in 10 years 3-41. c. Triple an investment in 4 years d. Triple an investment in 10 years h lows shown in the following table
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