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You buy a house worth $350,000 with 20% down payment and a 30-year mortgage on the remaining value. If your monthly payment is $1,500, what
You buy a house worth $350,000 with 20% down payment and a 30-year mortgage on the remaining value. If your monthly payment is $1,500, what is the effective annual rate (EAR) for the mortgage?
| 2.82% |
| 3.62% |
| 4.98% |
| 5.10% |
| 5.95% |
| 6.12% |
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Derivatives Markets
Authors: Robert L. McDonald
2nd Edition
032128030X, 978-0321280305
