Bill bought an oceanfront condominium for $79,900, with $6,900 down. Assuming an interest rate of 14 1/2% for 30 years, (A) what is the monthly payment and (B) if 1 point is charged at closing, what will that be in dollars? (Round your "Monthly payments" answer to the nearest cent.) A. Monthly payment B. Point charged
Bill bought an oceanfront condominium for $79,900, with $6,900 down. Assuming an interest rate of 14 1/2% for 30 years, (A) what is the monthly payment and (B) if 1 point is charged at closing, what will that be in dollars? (Round your "Monthly payments" answer to the nearest cent.) A. Monthly payment B. Point charged
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2P: Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for...
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Bill bought an oceanfront condominium for $79,900, with $6,900 down. Assuming an interest rate of 14 1/2% for 30 years, (A) what is the monthly payment and (B) if 1 point is charged at closing, what will that be in dollars? (Round your "Monthly payments" answer to the nearest cent.)
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