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You will need to find a home located in the City of Edmonton (The price of the house I found is $449,900) Assuming that you
- You will need to find a home located in the City of Edmonton (The price of the house I found is $449,900)
- Assuming that you will be paying the list price for the house, what is the minimum down payment, in dollars, that you will have to put down? Assume that you will make a minimum down payment of 6.42%,
- Once you make your down payment, What is your mortgage amount?
- Determine the Cmhc premium based on the balance outstanding on the down payment.
- Determine the new mortgage price.
- Based on your answers calculate your I/Y = P/Y, C/Y, N, PV, FV,PMT, P1 MONTHS, P2 MONTHS, BAL OWING, BAL PAID, INT PAID after 2 years and 4 months.
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
