Worksheet_ch6_3 (1)

Worksheet_ch6_3 (1) - You are going to borrow $250,000 to...

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PV = 250,000 NPER = 360(30 years * 12 months per year) RATE = 0.58%(Same as .0058) Monthly Payment = ($1,656.55) Formula =PMT(B5,B4,B3) The payment was left as negative to indicate that it is a cash outflow.
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Unformatted text preview: You are going to borrow $250,000 to buy a house. What will your monthly payment be if the interest rate is .58% per month and you borrow the money for 30 years?...
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This note was uploaded on 10/25/2011 for the course ECON 393 taught by Professor D during the Spring '10 term at Rutgers.

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