Question
Mr. Jones has just bought a house for $250,000. He will make a down payment of 5% on the house, and pay for the rest
Mr. Jones has just bought a house for $250,000. He will make a down payment of 5% on the house, and pay for the rest with a mortgage. The Bank Le Friendly offers 10-year mortgage loans at 13% APR compounded semi-annually, with monthly mortgage payments starting today. What is the amount of Mr. Joness monthly mortgage payment?
Answer is $83.51 please show work
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Healthcare Finance An Introduction To Accounting And Financial Management
Authors: Louis Gapenski
1st Edition
1567930905, 978-1567930900
