Question
Your grandfather takes a reverse annuity mortgage on his house for $135,000 at 7.00% for five years. His payments are an equal annual annuity of
Your grandfather takes a reverse annuity mortgage on his house for $135,000 at 7.00% for five years. His payments are an equal annual annuity of $21,939. If he decides to repay the loan at the end of year three, what amount is owed?
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The Complete Guide To Property Finance
Authors: Richard W J Brown
1st Edition
1739832027, 978-1739832025
