today to purchase the intellectual property rights to Harry Potter from Warner Brothers Entertainment. The deal is worth $2,250,000,000 ($2.25 billion). This deal will allow Big Budget Movies to use the Harry Potter intellectual property rights to make movies, shows, and sell merchandise forever. In return for these rights, Big Budget Movies will make end of month payments to Warner Brothers Entertainment forever. The first monthly payment occurs thirteen months from today. The negotiated interest rate on this deal is 6.43% compounded semiannually. How much does Big Budget need to pay each month
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A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Big Budget Movies Corporation has agreed today to purchase the intellectual property rights to Harry Potter from Warner Brothers Entertainment. The deal is worth $2,250,000,000 ($2.25 billion). This deal will allow Big Budget Movies to use the Harry Potter intellectual property rights to make movies, shows, and sell merchandise forever. In return for these rights, Big Budget Movies will make end of month payments to Warner Brothers Entertainment forever. The first monthly payment occurs thirteen months from today. The negotiated interest rate on this deal is 6.43% compounded semiannually. How much does Big Budget need to pay each month to Warner Brothers?
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