Question
You borrowed $80000 to finance the purchase of a property through a standard, 30 year fixed rate mortgage with an annual interest rate of 8
You borrowed $80000 to finance the purchase of a property through a standard, 30 year fixed rate mortgage with an annual interest rate of 8 percent, compounded monthly. a.what is your monthly mortgage payment? b. how much interest and how much principal repayment are in your first monthly mortgage payment? c. how much interest will you pay over the full life of the mortgage?
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Handbook Of Asset And Liability Management Volume 2
Authors: S. A. Zenios, W. T. Ziemba
1st Edition
0444528024, 978-0444528025
