Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
practice. need to double check work.
use table to find
1. Loan Amount
2. monthly payment on a 30 year loan (use pmt)
3. total interest paid over the life of 30 year loan
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TABLE 2
House Price
$398,000
Down payment
15%
15-year loan interest rate
monthly periods in 15-year loan
30-year loan interest rate
monthly periods in 30-year loan
3.90%
180
4.55%
360
TABLE 3
Good to go
四
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