document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1201043>Question 1201043</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Question 3 (15 marks) John has just purchased an apartment at a price of $5,000,000. He made a down-payment of $2,000,000 and financed the remaining with a 30-year mortgage at APR 12%, compounded monthly. (a) Determine the size of the fixed month-end payments. (5 marks)<BR>\n" );
document.write( "(b) Calculate the amount John still owes the bank right after the 120th payment was made. (5 marks)<BR>\n" );
document.write( "(c) Calculate the interest payment and the amount of principal paid in the 121st loan repayment. (5 marks) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #837742 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52786)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=837742\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "Calculations in the post by @mananth all are INCORRECT.\r<BR>\n" );
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