If you took out a 30-year loan to buy a house for $1 million at an interest rate of 5%, how much would you need to pay monthly to amortize your loan at the end of 30 years?
If you took out a 30-year loan to buy a house for $1 million at an interest rate of 5%, how much would you need to pay monthly to amortize your loan at the end of 30 years?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1QTD
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If you took out a 30-year loan to buy a house for $1 million at an interest rate of 5%, how much would you need to pay monthly to amortize your loan at the end of 30 years?
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