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PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
Edition 3ISBN: 978-1285082578PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
Edition 3ISBN: 978-1285082578 Exercise 5
Find the monthly mortgage payments on the following mortgage loans using either your calculator or the table in Exhibit 5.5:
a. $90,000 at 6.5 percent for 30 years
b. $125,000 at 5.5 percent for 20 years
c. $97,500 at 5 percent for 15 years
REFERENCE EXHIBIT TABLE:5.5
a. $90,000 at 6.5 percent for 30 years
b. $125,000 at 5.5 percent for 20 years
c. $97,500 at 5 percent for 15 years
REFERENCE EXHIBIT TABLE:5.5
Explanation
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Verified
a)
The monthly mortgage payments are ca...
PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
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