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Kathleen takes out a 30-year mortgage of 330000 dollars, to be repaid with monthly payments, the first coming a month from now. If the nominal
Kathleen takes out a 30-year mortgage of 330000 dollars, to be repaid with monthly payments, the first coming a month from now. If the nominal rate of interest is 7.9 percent convertible monthly, what is the total amount of interest that she'll pay over the life of the loan? Hint: The total interest paid is equal to the sum of all monthly payments minus the principal. Answer =
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Lessons In Corporate Finance
Authors: Paul Asquith, Lawrence A. Weiss
2nd Edition
1119537835, 978-1119537830
