Question
You buy your first condominium (congrats!) and take out a $100,000 30yr mortgage. The mortgage has a stated annual interest rate of 6%. What is
You buy your first condominium (congrats!) and take out a $100,000 30yr mortgage. The mortgage has a stated annual interest rate of 6%. What is the monthly payment amount? 22 Regarding the mortgage in the previous question, a $100,000 30yr mortgage. If instead of paying an interest rate of 6% you found a mortgage offered at 5%, by how much would your monthly payment be lower?
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Intermediate Financial Theory
Authors: Jean-Pierre Danthine, John B. Donaldson
2nd Edition
0123693802, 978-0123693808
