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Three years ago, you borrowed $1210 at the interest rate 5.2% p.a. compounded monthly. You do not pay monthly; instead, you pay off the loan
- Three years ago, you borrowed $1210 at the interest rate 5.2% p.a. compounded monthly.
You do not pay monthly; instead, you pay off the loan today by submitting a lump sum payment of $ ________ to the lender. Keep at least two digits after the decimal point.
2.Andrew Bruc took out a mortgage to buy a house whose price equals $673,900. The lender requires Andrew to put 27% of the house price as down payment.
The loan-to-value ratio of this mortgage equals ______ %.
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