Bill has a mortgage of $366,000 through his bank for property purchased. The loan is repaid by end of month payments of $2,912.69 with an interest rate of 4.35% compounded monthly over 14 years. What is the interest included in the 47th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. $
Bill has a mortgage of $366,000 through his bank for property purchased. The loan is repaid by end of month payments of $2,912.69 with an interest rate of 4.35% compounded monthly over 14 years. What is the interest included in the 47th payment of the mortgage? Enter a POSITIVE VALUE rounded to two 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
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Bill has a mortgage of $366,000 through his bank for property purchased. The loan is
repaid by end of month payments of $2,912.69 with an interest rate of 4.35%
compounded monthly over 14 years. What is the interest included in the 47th payment
of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places.
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