What are the per month payments

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If you have to pay off an effective 6.5% loan within the standard 30 years, then what are the per-month payments for the $1,000,000 mortgage? As in given Question, consider both an effective 6.5% interest rate per year, and a bank quote of 6.5% (APR) per year.

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If you could pay for your mortgage forever, how much would you have to pay per month for a $1,000,000 mortgage, at a 6.5% annual interest rate? Work out the answer (a) if the 6.5% is a bank APR.

Reference no: EM131234089

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What are the per month payments : If you have to pay off an effective 6.5% loan within the standard 30 years, then what are the per-month payments for the $1,000,000 mortgage?

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