John takes a loan to buy a house, the borrowing amount is $376,489, and the annual percentage rate (APR) is fixed to be 3.43% for 30 years, monthly interest rate (1+3.43/100)^(1/12)-1. He pays monthly with a fixed value, calculate the total amount John has to pay in 30 years. $ 3.543e5 meaning 3.543x105, -4.321E-3 meaning -4.321x10-3. The default format is the normal format. If not mentioned, use normal format. You can search for an equation, or solve numerically, or search an online loan calculator. 10% error is allowed. L4 sig. figures in exponential format, e.g.

John takes a loan to buy a house, the borrowing amount is $376,489, and the annual percentage rate (APR) is fixed to be 3.43% for 30 years, monthly interest rate (1+3.43/100)^(1/12)-1. He pays monthly with a fixed value, calculate the total amount John has to pay in 30 years. $ 3.543e5 meaning 3.543x105, -4.321E-3 meaning -4.321x10-3. The default format is the normal format. If not mentioned, use normal format. You can search for an equation, or solve numerically, or search an online loan calculator. 10% error is allowed. L4 sig. figures in exponential format, e.g.

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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Question

John takes a loan to buy a house, the borrowing amount is $376,489, and the annual percentage rate (APR) is
fixed to be 3.43% for 30 years, monthly interest rate (1+3.43/100)^(1/12)-1. He pays monthly with a fixed
value, calculate the total amount John has to pay in 30 years. $
3.543e5 meaning 3.543x105, -4.321E-3 meaning -4.321x10-3. The default format is the normal format. If not
mentioned, use normal format. You can search for an equation, or solve numerically, or search an online loan
calculator. 10% error is allowed.
L4 sig. figures in exponential format, e.g.

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