Question
Sapumal has purchased a property for Rs. 2,250,000. A down payment of Rs. 250,000 is paid at the beginning of the mortgage and the balance
Sapumal has purchased a property for Rs. 2,250,000.
A down payment of Rs. 250,000 is paid at the beginning of the mortgage and the balance is to be repaid over 10 years at a 14% per annum interest rate.
In that case, develop the amortization table for 1st 3 months, by mentioning what the periodic payment on this mortgage would be, if the instalments are to be made every month?
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Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
