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John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised to repay the loan over 15 years (amortization). How much are the monthly payments with semiannual compounding? 10 a $1,146 b $1,402 C $1,421 d $1,380

John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised to repay the loan over 15 years (amortization). How much are the monthly payments with semiannual compounding? 10 a $1,146 b $1,402 C $1,421 d $1,380

Essentials Of Investments
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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John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised to repay the loan over 15 years (amortization). How much are the monthly payments with semiannual compounding? 10 a $1,146 b $1,402 C $1,421 d $1,380
Transcribed Image Text:John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised to repay the loan over 15 years (amortization). How much are the monthly payments with semiannual compounding? 10 a $1,146 b $1,402 C $1,421 d $1,380
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