Question
You plan to buy a $111,978 house. You have $23,223 to use as the down payment. The bank offers to loan you the remainder at
You plan to buy a $111,978 house. You have $23,223 to use as the down payment. The bank offers to loan you the remainder at 18% nominal interest compounded monthly. The term of the loan is 20 years. What is your equal monthly loan payment?
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese
6th Edition
978-1506396811, 150639681X
