You would like to buy a house for $850,000. You put $180,000 down, and then get the rest at 7.5%, compounded monthly. 1. Calculate the monthly mortgage and total cost of 360 payments if you amor years. (Remember to round to 2 decimal places for each answer) 2. Calculate the monthly mortgage and total cost of 180 payments if you amor years. (Remember to round to 2 decimal places for each answer) 3. List at least one benefit and at least one downside to each loan, and then tel would you prefer?

You would like to buy a house for $850,000. You put $180,000 down, and then get the rest at 7.5%, compounded monthly. 1. Calculate the monthly mortgage and total cost of 360 payments if you amor years. (Remember to round to 2 decimal places for each answer) 2. Calculate the monthly mortgage and total cost of 180 payments if you amor years. (Remember to round to 2 decimal places for each answer) 3. List at least one benefit and at least one downside to each loan, and then tel would you prefer?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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