Question
To buy a new home, someone takes out a mortgage of $3,000,000 on 1st January this year, and it will be paid off in 25
To buy a new home, someone takes out a mortgage of $3,000,000 on 1st January this year, and it will be paid off in 25 years with payments at the end of each month. The interest rate of this loan is 2.4% per year compounded monthly. How much is each fixed mortgage payment per month?
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Finance For Non Financial Managers
Authors: Gene Siciliano
1st Edition
0071413774, 978-0071413770
