Question
You take out a $200,000 mortgage for 20 years at 6%. a. What is your monthly payment? b. What is the principle and interest on
You take out a $200,000 mortgage for 20 years at 6%.
a. What is your monthly payment?
b. What is the principle and interest on the first payment?
c. What is the principle and interest on the twelfth payment?
d. How much interest will you pay over the 20 years?
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Fundamentals of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
8th Edition
978-0073530628, 978-0077861629
