Question
You are able to purchase a mortgage note from a bank for $405,000 that gives you the right to receive $80,700 in each of the
You are able to purchase a mortgage note from a bank for $405,000 that gives you the right to receive $80,700 in each of the next 7 years. What is the yield on this investment?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
