Question
You just bought a condo and have a $400,000 30-year mortgage, interest rate of 5% annually. Annual payments of $26,021 are due at the end
You just bought a condo and have a $400,000 30-year mortgage, interest rate of 5% annually. Annual payments of $26,021 are due at the end of each year. How much is the mortgage balance after you make the first payment?
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Fundamentals Of Futures And Options Markets
Authors: Jonn C. Hull
8th International Edition
0133382850, 9780133382853
