Assume annual mortgage payments

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Reference no: EM131101669

a) Assume mortgage payments of $1000 per month for 30 years and an interest rate of 0.5% per month. What initial principal or PW will this repay?

b) Assume annual mortgage payments of $12,000 for 30 years and an interest rate of 6% per year. What initial principal or PW will this repay?

c) Assume annual mortgage payments of $12,000 for 30 years and an interest rate of 6.168% per year. What initial principal or PW will this repay?

Reference no: EM131101669

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