Question
Suppose you are considering buying a house with a market price of $225,000. You plan on making a down payment of 15% and financing the
Suppose you are considering buying a house with a market price of $225,000. You plan on making a down payment of 15% and financing the remainder using a 30 year mortgage with a fixed interest rate of 6.25%.
Suppose you are wondering if you continued to make your monthly payments in the amount before re-financing. How long will it take to pay off the mortgage?
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Financial Management An Introduction
Authors: Jim McMenamin
1st Edition
0415181623, 9780415181624
