A mortgage of £180,000 is repaid over 20 years by equal monthly payments in arrears. The interest rate is i = 7.4% p.a. effective. Compute the monthly payment £ 数字 Enter an answer correct to 2 decimal places.

A mortgage of £180,000 is repaid over 20 years by equal monthly payments in arrears. The interest rate is i = 7.4% p.a. effective. Compute the monthly payment £ 数字 Enter an answer correct to 2 decimal places.

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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How much will you pay on a 25 year, $400,000 mortgage if you make monthly payment at the beginning of month? Interest is 3.5% compounded annually. O a. $1,968 O b. $1,973 OC. $1,979 O d. $1,997 O e. $1,991
A house sells for $317,000 and a 5% down payment is made. A mortgage is secured at 4% for 40 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $301,150 and the monthly payment is $1258.81.
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