Catarina bought a residential unit in XYZ Real Estate Co. amounting to 20,000,000. The said unit has a term of: 5,000 reservation fee, 20% down payment payable in 3 years, and the rest of the contract price payable in 20 years. Compute for the annual amortization for the next 10 years.

Catarina bought a residential unit in XYZ Real Estate Co. amounting to 20,000,000. The said unit has a term of: 5,000 reservation fee, 20% down payment payable in 3 years, and the rest of the contract price payable in 20 years. Compute for the annual amortization for the next 10 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 3P

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