Question
Jeremy takes out a 30-year mortgage of 230000 dollars at a nominal rate of interest of 7.25 percent convertible monthly, with the first payment due
Jeremy takes out a 30-year mortgage of 230000 dollars at a nominal rate of interest of 7.25 percent convertible monthly, with the first payment due in one month. How much does he owe on the loan immediately after the 87th payment?
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Foundations Of Real Estate Financial Modelling
Authors: Roger Staiger
2nd Edition
1138046183, 978-1138046184
