Calculate the monthly payment of the mortgage

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Reference no: EM131881188

1. A homeowner takes a 15-year mortgage loan of $500,000 at rate of 5%. Calculate the monthly payment of the mortgage.

(Expected rate of return and current yield?)

2. Time Warner has bonds that are selling for $ 653 The coupon interest rate on the bonds is 11.25 percent and they mature in 22 years. What is the yield to maturity on the? bonds? What is the current? yield?

Reference no: EM131881188

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