Question
You are the current owner of a house which you bought yesterday for 500k while having 100k of your own equity to put down. You
You are the current owner of a house which you bought yesterday for 500k while having 100k of your own equity to put down. You have a 25 years mortgage payable monthly and which costs you $2024 a month. What is the duration of your mortgage?
A: 0.3
B: 3.6
C: 11.19
D: 28.79
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International Finance Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
10th edition
978-0133425895, 133425894, 978-0133423631, 133423638, 978-0133423648
