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olga2289 [7]
3 years ago
12

Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. What is the loan amount (

present value)?
Mathematics
1 answer:
Drupady [299]3 years ago
3 0
Total = 1200( 1+ \frac{0.08}{12} )^{30} = $1464.71

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