Question
Mr . Fatih wants to buy a house for 1 5 0 0 0 0 0 TL using a loan, the loan interest is 6
Mr Fatih wants to buy a house for TL using a loan, the loan interest is percent annually and he can get the loan for a period of months to months. According to this :
A If he uses a year loan and wants to pay a maximum of TL per month, how much should Mr Fatih pay for the house in cash?
B What will be the effective interest rate if the maturity in interest calculations is monthly?
C What is the real interest rate on the loan if annual inflation is percent?
D If he pays TL in cash and pays the rest as TL monthly, in how many months will it take to repay the loan?
E If Mr Fatih pays TL every month for years without making any down payment, what will be the annual nominal interest for the loan he received from the bank?
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Lets break down the questions and solve them step by step A If Mr Fatih uses a 5year loan and wants to pay a maximum of 20000 TL per month we can calc...Get Instant Access to Expert-Tailored Solutions
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
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