Question
to carry out the refurbishment of a building a loan of $7889000 was obtained. Terms of the loan were: annual interest rate of 9.75% paid
to carry out the refurbishment of a building a loan of $7889000 was obtained. Terms of the loan were: annual interest rate of 9.75% paid monthly in arrears and amortized over a term of 15 years. What is the monthly payment? What is the loan balance after 5 years?
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Essentials Of Real Estate Finance
Authors: David Sirota, Doris Barrell
14th Edition
1475428391, 9781475428391
