Question
Pamela is considering a 30-year mortgage with the following terms: Loan amount = $600,000 Annual rate = 9.9% Assuming payments occur at the end
Pamela is considering a 30-year mortgage with the following terms: Loan amount = $600,000 Annual rate = 9.9% Assuming payments occur at the end of each month, what will be the monthly mortgage payment for this loan? Make your answer a positive number, and round to the nearest dollar if necessary. $ Assuming Pamela decides to make monthly mortgage payments of the amount determined above plus an additional $400, how many months will it take Pamela to pay off the entire mortgage? Make your answer a positive number, and round to the nearest month. months
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
6th Canadian edition
1259024962, 978-1259024962
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