You are buying a house for $150,000.00 with a downpayment of $30,000.00. The loan will be paid back over 30 years with monthly payments of $600.92. If the interest rate is 4.4% compounded monthly, what would the smaller concluding payment
You are buying a house for $150,000.00 with a downpayment of $30,000.00. The loan will be paid back over 30 years with monthly payments of $600.92. If the interest rate is 4.4% compounded monthly, what would the smaller concluding payment
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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You are buying a house for $150,000.00 with a downpayment of $30,000.00. The loan will be paid back over 30 years with monthly payments of $600.92. If the interest rate is 4.4% compounded monthly, what would the smaller concluding payment be?
The concluding payment would be $
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