Question
Your brother-in-law asks you to lend him $ 100000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for
Your brother-in-law asks you to lend him $100000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for 10 years, 120 payments in all. You decide that a fair interest rate is 4.00% compounded annually. What should the monthly payment be on the $100000.00 loan?
| a | $833.33 | |
| b | $1012.45 | |
| c | $985.89 | |
| d | $1027.42 | |
| e | $866.67 |
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Technical Analysis Of Stock Trends
Authors: Robert D. Edwards, John Magee, W.H.C. Bassetti
11th Edition
1032241829, 978-1032241821
