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You borrowed money from a bank using a mortgage loan for the specified amount 200,000 TL. This debt will be paid in equal monthly installments
You borrowed money from a bank using a mortgage loan for the specified amount 200,000 TL. This debt will be paid in equal monthly installments within the specified years 2 years. You can determine the mortgage loan rate from any financial institution. (Attach the website of the financial institution showing the loan rate to your homework). a. Determine the values of different types for the borrowing rate (mortgage loan rate) i. Annual effective interest rate, ii. Annual nominal interest rate, iii. Three years nominal interest rate, iv. 8-month effective interest rate b. Form monthly debt payment table, c. Prepare the monthly debt payment table in case you restructure your remaining debt at 0.5% lower than the used borrowing rate after the specified 5 months. You borrowed money from a bank using a mortgage loan for the specified amount 200,000 TL. This debt will be paid in equal monthly installments within the specified years 2 years. You can determine the mortgage loan rate from any financial institution. (Attach the website of the financial institution showing the loan rate to your homework). a. Determine the values of different types for the borrowing rate (mortgage loan rate) i. Annual effective interest rate, ii. Annual nominal interest rate, iii. Three years nominal interest rate, iv. 8-month effective interest rate b. Form monthly debt payment table, c. Prepare the monthly debt payment table in case you restructure your remaining debt at 0.5% lower than the used borrowing rate after the specified 5 months
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