Consider a fi xed rate, fi xed payment 15 - year mortgage loan for $350,000. I
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Consider a fi xed rate, fi xed payment 15 - year mortgage loan for $350,000. I ’ ll consider the present value of the loan when I take the loan to be my actual cost of the loan. If I want to keep this present value constant at about $400,000, how much can I borrow based upon the APR of the loan? Assume the savings interest rate is one - half of the loan APR.
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Related Book For 
Understanding The Mathematics Of Personal Finance An Introduction To Financial Literacy
ISBN: 9780470497807
1st Edition
Authors: Lawrence N. Dworsky
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