question archive A bank recently loaned Mr
A bank recently loaned Mr
Subject:FinancePrice:2.86 Bought22
A bank recently loaned Mr. A $150,000 to buy a house. The loan is for 30 years and is fully amortized. The nominal rate on the loan is 8 percent, and payments are made at the end of each month (Constant Payment Mortgage). What will be the repayment of principal part of the fourth monthly payment? (Answer is rounded)
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