Question
Your friend is taking out a mortgage for $127,000 at 8.70% repayable with monthly payments over 25 years. She respects your financial expertise and asks
Your friend is taking out a mortgage for $127,000 at 8.70% repayable with monthly payments over 25 years. She respects your financial expertise and asks "how many payments will I have to make before I reduce the principal balance by half its original amount." You pull out your calculator, and tell her the number of payments she'll make to reduce the balance by half is:
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Global Corporate Finance A Focused Approach
Authors: Kenneth A. Kim
1st Edition
9814335827, 9789814335829
