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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1. Answer: 3493.4 need help with work!!!!
A house has an assumable $120,000 below-market loan at 8.5 percent for a remaining term of 15 years. Current rates are 9 percent for 15-year mortgages. All else equal, how much more is a buyer willing to pay for the house with the assumable loan in place?
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