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tetleyelmo tetleyelmo
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7 years ago
You have just taken out a 30-year mortgage on your new home for $120,000. This mortgage is to be repaid in 360 equal monthly installments. If the stated (nominal) annual interest rate is 14.75 percent, what is the amount of each of the monthly installments? Round to the nearest whole dollar.
A) $1,515   
B) $1,472   
C) $1,493   
D) $1,522   
E) $1,440
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Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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BlimpBlimp
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7 years ago
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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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