When Jerry Garcia was alive he bought a house for $500,000 and made a $100,000 down payment.
Question:
(a) What was his monthly loan payment?
(b) What must he have paid (in addition to his year's 120th monthly payment) to pay the remaining balance of his loan?
(c) Recompute part (a) using 6% compounded continuously.
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a P 500000 100000 n 360 i rm 00912 A 400000 0...View the full answer
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Related Book For 
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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