What is the monthly payment on a 15 year mortgage

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Reference no: EM131234164

1. Rental agreements are not much different from mortgages.

For example, what would your rate of return be if you rented your $500,000 warehouse for 10 years at a monthly lease payment of $5,000? If you can earn 5% per annum elsewhere, would you rent out your warehouse?

2. What is the monthly payment on a 15-year mortgage for every $1,000 of mortgage at an effective interest rate of 6.168% per year (here, 0.5% per month)?

Reference no: EM131234164

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