Question
Use the formula for the future value of annuity A house costs $625,000.You plan to get a mortgage for 90% of the cost.What will the
Use the formula for the future value of annuity
A house costs $625,000.You plan to get a mortgage for 90% of the cost.What will the monthly payments be for a 6.50%, 30-year mortgage?For a 20-year mortgage?How much total interest would you pay for each mortgage?
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
