Question
You borrowed $195,000 using a 10-year, fixed rate mortgage with monthly payments. The ending balance is $31,000 higher than the original amount borrowed. The rate
You borrowed $195,000 using a 10-year, fixed rate mortgage with monthly payments. The ending balance is $31,000 higher than the original amount borrowed. The rate on the loan is 10%. What is the monthly payment on the mortgage?
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
8th Edition
0324258917, 9780324258912
