A mortgage of £160,000 is repaid over 20 years by equal monthly payments in arrears. The interest rate is i = 8.5% p.a. effective. Compute the monthly payment £ Number Enter an answer correct to 2 decimal places.
A mortgage of £160,000 is repaid over 20 years by equal monthly payments in arrears. The interest rate is i = 8.5% p.a. effective. Compute the monthly payment £ Number Enter an answer correct to 2 decimal places.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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