Question
Please show all work and solutions that you would use. Please dont only use excel A. You purchased a home 9 years ago for $150,000
Please show all work and solutions that you would use. Please dont only use excel
A. You purchased a home 9 years ago for $150,000 and borrowed the entire amount from Broadway Bank at an APR of 6% with monthly payments. The original maturity of your mortgage was 30 years when you purchased the home.
B. Suppose you refinance with an APR of 3%, what is your new payment?
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Capital Markets Institutions And Instruments
Authors: Frank J. Fabozzi, Franco Modigliani
4th Edition
0136026028, 9780136026020
