Question
You want to buy a house that worth $250,000. You put done $60,000 down payment and borrow the rest from a bank with interest rate
You want to buy a house that worth $250,000. You put done $60,000 down payment and borrow the rest from a bank with interest rate 4.5% per year compounded monthly for 15 years. What is you monthly payment to the bank? How much interest you will pay to the bank in 15 years? How much interest you pay in the FIRST year?
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Intermediate Financial Management
Authors: Eugene F. Brigham, Louis C. Gapenski
4th Edition
0030754828, 978-0030754821
