George is looking for a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500. He takes a 30 year fixed rate mortgage with 5.46% interest rate and no fees.Assuming George repays the mortgage after 5 years, what is his annualized IRR on the loan? Write your answer as a percent rounded to two decimal points without the % sign (e.g. if youget 5.6499%, write 5.65).

Annualized rate of return refers to the return that is being earned by the investor over the…

George is looking for a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500. He takes a 30 year fixed rate mortgage Assuming George repays the mortgage after 5 years, what is his annualized IRR on the loan? Write your answer as a percent rounded to two decimal points without the % sign (e.g. if you get 5.6499%, write 5.65).

George is looking for a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500. He takes a 30 year fixed rate mortgage Assuming George repays the mortgage after 5 years, what is his annualized IRR on the loan? Write your answer as a percent rounded to two decimal points without the % sign (e.g. if you get 5.6499%, write 5.65).

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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