Calculate the monthly payments-annual rate of interest

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An apartment complex is valued at $3 million. a hedge fund is looking to buy the property with a $500,000 down payment and a 10 year loan with an annual rate of interest 3.5%. Calculate the monthly payments. After making the monthly payments for 3 years, the fund decides to lay an extra $1,000 a month in order to pay off the loan early, how many months will it take to pay off the loan early? How much does the fund save by doing this?

Reference no: EM13807962

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Calculate the monthly payments-annual rate of interest : An apartment complex is valued at $3 million. a hedge fund is looking to buy the property with a $500,000 down payment and a 10 year loan with an annual rate of interest 3.5%. Calculate the monthly payments. After making the monthly payments for 3 ye..

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