A $850,000 mortgage is financed using a 30-year constant payment product at 3.50% interest. Assuming that the
Question:
A $850,000 mortgage is financed using a 30-year constant payment product at 3.50% interest. Assuming that the loan is held to maturity, i.e., the house is paid off, without any refinancing, in 30 years, what percentage of the total payments go to Wall Street versus Main Street? (Must show HP-12C keystrokes.)
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To determine the percentage of total mortgage payments that go to Wall Street versus Main Street we need to understand the components of a mortgage pa...View the full answer
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Related Book For 
Foundations Of Real Estate Financial Modelling
ISBN: 9781138046184
2nd Edition
Authors: Roger Staiger
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