Question
You bought a ski chalet at Mount Tremblant for $220,000 220,000. You borrow the full amount over a 20 20-year term. The bank quotes you
You bought a ski chalet at Mount Tremblant for $220,000
220,000. You borrow the full amount over a 20
20-year term. The bank quotes you a rate of 5.7
5.7%. You choose to make 12
12 payments per year. Over the life of the mortgage, what is the total amount of interest that you pay?
The total amount of interest paid over the life of the mortgage is $
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Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
