You take a mortgage of $500,000 to buy a home. It is repayable over 25...

90.2K

Verified Solution

Question

Accounting

You take a mortgage of $500,000 to buy a home. It is repayable over 25 years and the interest is
2% per year. What will be your monthly payments if they are due at the end of the month?
the correct answer is $2119, please don't use excel or scientific calculator

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students