Question
Suppose you have taken out a $165,000 fixed rate mortgage loan that has a term of 15 years and an interest rate of 3.25%. If
Suppose you have taken out a $165,000 fixed rate mortgage loan that has a term of 15 years and an interest rate of 3.25%. If you able to make a lump sum future payment of $15,000, what will be your monthly mortgage payment? Show your steps used in Excel.
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
9th Edition
0321598903, 978-0321598905
