Question
The following information is for the next five questions. Ryan and Laurie Middleton just purchased their first home with a traditional (monthly compounding and payments)
The following information is for the next five questions. Ryan and Laurie Middleton just purchased their first home with a traditional (monthly compounding and payments) 6% 30year mortgage loan of $150,000.
How much is their monthly payment?
|
| A. | $1060.90 |
|
| B. | $740.79 |
|
| C. | $899.31 |
|
| D. | $3045.16 |
|
|
| E. $7746.75
What is their interest payment during the first month of the second year? What is their principal payment during the first month of the second year? What is their interest payment during the 25th year? What is their principal payment during the 25th year? |
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Project Finance For Construction
Authors: Anthony Higham, Carl Bridge, Peter Farrell
1st Edition
1138941298, 978-1138941298
