If you went to the bank for a 35 year, $180,000 mortgage at an interest rate of 7% compounding monthly and you wanted to give payments monthly (at the end of the period), how much would each of your payments have to be over the 35 years? your answer(s) should be rounded to the nearest cent. Monthly payment = ?
If you went to the bank for a 35 year, $180,000 mortgage at an interest rate of 7% compounding monthly and you wanted to give payments monthly (at the end of the period), how much would each of your payments have to be over the 35 years? your answer(s) should be rounded to the nearest cent. Monthly payment = ?
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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If you went to the bank for a 35 year, $180,000 mortgage at an interest rate of 7% compounding monthly and you wanted to give payments monthly (at the end of the period), how much would each of your payments have to be over the 35 years?
your answer(s) should be rounded to the nearest cent.
Monthly payment = ?
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