Question
You just acquired a mortgage in the amount of $249,500 at 7.25% interest, compounded semi-annually. Equal payments are to be made every 6 months for
You just acquired a mortgage in the amount of $249,500 at 7.25% interest, compounded semi-annually. Equal payments are to be made every 6 months for 30 years.
1) how much of the first loan payment is interest?
2) How much of the first loan payment is principle repayment?
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Innovation In Public Transport Finance
Authors: Shishir Mathur
1st Edition
1138250139, 978-1138250130
