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Title: The Savoias bought an investment property valued at $160 000.00 by paying 25% down and mortgaging ... Post by: ikrabbe on Nov 27, 2017 The Savoias bought an investment property valued at $160 000.00 by paying 25% down and mortgaging the balance over 25 years through equal monthly payments at 6% compounded monthly. What was the size of the monthly payments?
Title: Re: The Savoias bought an investment property valued at $160 000.00 by paying 25% down and ... Post by: yacom on Nov 27, 2017 The mortgaged balance is 160 000 × (1-0.25) = 120 000
120000.00 = PMT 120000.00 = PMT(155.206864) $773.16 = PMT |