Question
Say that we have a partly amortising home loan with a term of 30 years. The interest rate is 5.25% and the repayments are weekly.
Say that we have a partly amortising home loan with a term of 30 years. The interest rate is 5.25% and the repayments are weekly. If the loan amount or principle was $1,000,000 and had a 10% balance at maturity, what would be that end balance at maturity (in dollars)? Would it be 10% of only the principle amount or does it also account for interest?
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
