Question
To buy your first home, you take out a 15 year (fully amortizing) mortgage for $375,000 which requires equal yearly payments. The effective annual interest
To buy your first home, you take out a 15 year (fully amortizing) mortgage for $375,000 which requires equal yearly payments. The effective annual interest rate is 3.6%. How much principal do you pay off in year 2?
| $19,985.88 | ||
| $12,805.51 | ||
| None of the above | ||
| $38,277.26 | ||
| $32.791.39 |
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The Oxford Handbook Of Pricing Management
Authors: Ozalp Ozer, Robert Phillips
1st Edition
0199543178, 978-0199543175
