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the amotrization period for A) should be 25 (16 marks) Priyanka wants to buy a house (with no money down!) and the largest amount of
the amotrization period for A) should be 25
(16 marks) Priyanka wants to buy a house (with no money down!) and the largest amount of weekly payments she can afford is $5,100.00. a) What is most expensive house Priyanka can buy if the interest rate on the mortgage is 7.200% compounded semi-annually. b) If Priyanka insists on a 20 year amortization period, now what is the most expensive house she can afford? (Still with no money down and the same interest rate as in part a)) c) Priyanka's mortgage broker says that with those payments (and a 25 year amortization period) they can afford a $1,926,000.00 house. What is the interest rate 2)Step by Step Solution
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