Question
Several years ago Bill got a home mortgage of $155,000 with a term of 30 years at an APR of 9%. Use the Long-Term Estimate/Bound
Several years ago Bill got a home mortgage of $155,000 with a term of 30 years at an APR of 9%. Use the Long-Term Estimate/Bound (the book calls this Rule of Thumb 3) to find the difference between his estimated monthly payment and the monthly payment formulagives.
Enter your answer as a positive value rounded to the nearestcent.
difference: $
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Contemporary Business Mathematics With Canadian Applications
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
12th Edition
0135285011, 978-0135285015
