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You just bought a home, financing it with standard 15-year mortgage with monthly payments. A quick calculation shows that if you only make the
You just bought a home, financing it with standard 15-year mortgage with monthly payments. A quick calculation shows that if you only make the required payment each month, you will pay X in principal and 0.6X in interest. What is the nominal annual interest rate (monthly compounding) on this mortgage? Hint: pick your favorite starting balance. O 6.220% O6.623% 6.431% 06.028% O6.822%
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
