Nasir wants to purchase a house that costs OMR 31071. His mortgage lender requires a 10541.7 down payment for a 18-year loan. His monthly mortgage payment will be OMR 770.28. How much will Hassan pay back to mortgage lender over 18 years?

Nasir wants to purchase a house that costs OMR 31071. His mortgage lender requires a 10541.7 down payment for a 18-year loan. His monthly mortgage payment will be OMR 770.28. How much will Hassan pay back to mortgage lender over 18 years?

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

Nasir wants to purchase a house that costs
OMR 31071. His mortgage lender requires a
10541.7 down payment for a 18-year loan. His
monthly mortgage payment will be OMR
770.28. How much will Hassan pay back to
mortgage lender over 18 years?
Select one:
O a. 155838.78
Ob. 20714.00
Oc. 176922.18
Od. 166380.48

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