Question
Suppose you need to borrow $400,000 to buy a house. The bank of Montreal offers you a 5 year term mortgage with a rate of
Suppose you need to borrow $400,000 to buy a house. The bank of Montreal offers you a 5 year term mortgage with a rate of 7.252% to be amortized over 25 years of monthly payments. What is your monthly payment?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
