Question
Please show your working and formula (If possible) -------------------------- Suppose you take out an $840,000, 20-year mortgage loan to buy a residential apartment. The interest
Please show your working and formula (If possible)
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Suppose you take out an $840,000, 20-year mortgage loan to buy a residential apartment. The interest rate on the mortgage is 4.65% per annum, and payments are required to be made annually at the end of each year.
Question:
Calculate the annual mortgage payment on the loan
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Mathematics For Business
Authors: Stanley A Salzman, Charles D Miller, Gary Clendenen
8th Edition
0321357434, 9780321357434
