Question
lPretend you own a house that has a current market value of $240,000. Five (5) years ago, you financed this house with a mortgage. Your
lPretend you own a house that has a current market value of $240,000. Five (5) years ago, you financed this house with a mortgage. Your mortgage payment is $1,289 / month and you have 25-years (300 months) remaining till loan maturity. The current market interest rate is 4%.
l
lWhat is the value of your mortgage today?
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
