Question
You want to buy a house for $200,000. You are required to make a down payment of 20% today and you will borrow the remaining
You want to buy a house for $200,000. You are required to make a down payment of 20% today and you will borrow the remaining amount. The bank is charging you 4.2% per year APR (compounded monthly) for a 30 year fixed rate loan. The loan will be fully amortized over 30 years. What is your down payment today and what is your monthly mortgage payment?
Down payment today=____
Monthly mortgage payment=____
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Behavioral Finance And Asset Prices
Authors: David Bourghelle, Pascal Grandin, Fredj Jawadi, Philippe Rozin
1st Edition
3031244850, 978-3031244858
