SOLUTION: A couple has decided to purchase a $140000 house using a down payment of $14000. They can amortize the balance at 10% over 15 years.
a) What is their monthly payment?
b) What is
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Question 1201415: A couple has decided to purchase a $140000 house using a down payment of $14000. They can amortize the balance at 10% over 15 years.
a) What is their monthly payment?
b) What is the total interest paid?
c) What is the equity after 5 years?
d) What is the equity after 10 years?
Answer by ikleyn(52887) (Show Source): You can put this solution on YOUR website!
.
Find standard formulas for it in any textbook in finance.
Why do you neglect such simple way to increase the level of your knowledge ?
It would seem that this is the first step you should do when studying this subject, isn't it ?
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