Question
You want to buy a house worth $3,230,000. You choose to take out a 30-year fixed rate conforming mortgage, put a downpayment of $1.4 million
You want to buy a house worth $3,230,000. You choose to take out a 30-year fixed rate conforming mortgage, put a downpayment of $1.4 million and borrow the rest. The APR of the mortgage is 4.563% compounded monthly.
What is the Present Value of the overall amount of interest you have to pay?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
