Question
Leo borrows $300,000 mortgage to buy a house at the annual interest rate 6.25%.Leo needs to return the ammortized loan with the equal amount of
Leo borrows $300,000 mortgage to buy a house at the annual interest rate 6.25%.Leo needs to return the ammortized loan with the equal amount of monthly payment.
How much is the monthly payment?
[A]At the end of the 13th month Leo wants to pay off the mortgage earlier.After Leo paid the 13th month annuity, how much principal Leo has to pay?
[B]In which month, the proportion of the interest payment becomes less than 50%?[C]Please key in the procedure of the computation [D]
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Succeeding in Business with Microsoft Excel 2013 A Problem Solving Approach
Authors: Debra Gross, Frank Akaiwa, Karleen Nordquist
1st edition
978-1285099149, 9781285963969, 1285099141, 1285963962, 978-1285715346
