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Find monthly payment to retire mortgage on fifteen years

You are buying a house for 250,000 a. If i make a down payment of 50,000 and mortgage the rest at 8.5% compounded monthly, what will be the monthly payment to retire the mortgage on 15 years? b. Consider the 7th payment. How much will the interest and principal payments be?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find monthly payment to retire mortgage on fifteen years

Reference No:- TGS0677546

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Shown below is the sales forecast

Q : Question-baxter video products

Q : How much total contribution margin

Q : Desire to put serious effort

Q : Find monthly payment to retire mortgage on fifteen years

Q : The budget reports of brandon company

Q : Short-run effect on funds requirements

Q : Determine the required sales to meet the target net income

Q : Find the torsional constant

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find monthly payment to retire mortgage on fifteen years

Reference No:- TGS0677546

Recent Questions Asked Finance Basics

Q : Shown below is the sales forecast

Q : Question-baxter video products

Q : How much total contribution margin

Q : Desire to put serious effort

Q : Find monthly payment to retire mortgage on fifteen years

Q : The budget reports of brandon company

Q : Short-run effect on funds requirements

Q : Determine the required sales to meet the target net income

Q : Find the torsional constant

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