Question
You take out a 4-year $100,000 mortgage loan with an interest rate of 8% and an annual payment. a) What is the yearly payment of
You take out a 4-year $100,000 mortgage loan with an interest rate of 8% and an annual payment.
a) What is the yearly payment of this mortgage loan?
b) What is the interest component and principal components of the annual payment in 2 years?
c) After 2 years, you decided to sell your house and prepay the mortgage. What is the mortgage balance of the loan?
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Beyond Greed And Fear Understanding Behavioral Finance And The Psychology Of Investing
Authors: Hersh Shefrin
1st Edition
0195161211, 978-0195161212
