Question
Solomia owns her own twobedroom unit, which is valued at $685,000, against which she holds a 25-year mortgage of $535,000. Her annual mortgage repayments are
Solomia owns her own twobedroom unit, which is valued at $685,000, against which she holds a 25-year mortgage of $535,000. Her annual mortgage repayments are $22,620.
How can I calculate the interest rate of mortgage using this statement here? My calculator is giving me 0.46% which is unreasonable as a mortgage interest rate.
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Risk Management And Financial Institutions
Authors: John C Hull
6th Edition
1119932483, 9781119932482
