Question
Suppose Mary borrows $3,500,000 from a local bank to buy the apartment. The bank offers a 30 years, P - 2% mortgage. The prime rate
Suppose Mary borrows $3,500,000 from a local bank to buy the apartment. The bank offers a 30 years, P - 2% mortgage. The prime rate is fixed at 5% currently. Calculate the monthly mortgage installment amount.
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
8th Edition
007322359X, 9780073223599
