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Question 2. You have taken a $400,000, zero-points, 6.60% interest rate, 25-year mortgage with a Monthly Payment schedule. a. What is the Monthly payment on
| Question 2. You have taken a $400,000, zero-points, 6.60% interest rate, 25-year mortgage with a Monthly Payment schedule. | |||
| a. What is the Monthly payment on this 25-year mortgage? | ($2,725.88) | =PMT($B$20/12,$B$19*12,$B$18) | |
| b. What is the effective annual interest rate on this 25-year mortgage? | |||
| c. What is the amount of monthly interest paid on the 20th Monthly payment on this 25-year mortgage? | |||
| d. What is the reduction in the mortgage loan balance on the 25th Monthly payment on this 26-year mortgage? | |||
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Financial Regulation In The EU From Resilience To Growth
Authors: Raphaël Douady , Clément Goulet, Pierre-Charles Pradier
1st Edition
3319442864,3319442872
