Question
John House has taken a $260000 mortgage on his house at an interest rate of 8% per year. If the mortgage calls for 21 equal,
John House has taken a $260000 mortgage on his house at an interest rate of 8% per year. If the mortgage calls for 21 equal, what proportion of his 15th yearly payment will be “wasted” on interest?
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
