Thursday
September 3, 2015

Homework Help: Finance

Posted by YaYa on Tuesday, September 2, 2014 at 1:05pm.

You are considering borrowing $150,000 to purchase a new
home.
a. Calculate the monthly payment needed to amortize an 8
percent fixed-rate 30-year mortgage loan.
b. Calculate the monthly amortization payment if the loan in (a)
was for 15 years.

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