Question
You borrowed $219,371 to buy a property and the bank applied an interest rate of 8.21% p.a compounding monthly. Your loan was approved over 7
You borrowed $219,371 to buy a property and the bank applied an interest rate of 8.21% p.a compounding monthly.
Your loan was approved over 7 years.
Calculate your loan repayments correct to the nearest dollar (Ignore $ sign and cashflow direction).
You pay $750 per month into a bank account paying 8%pa compounding monthly.How much will this be worth in 5 years time?
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Management Information Systems Managing the Digital Firm
Authors: Kenneth C. Laudon, Jane P. Laudon
15th edition
134639715, 978-0134639710
