will upvote A couple is buying their dream house for $498,650.00. They will put 20.00%...
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A couple is buying their dream house for $498,650.00. They will put 20.00% down and finance the rest with a 30.00-year mortgage with monthly payments. The bank has offered them a loan with 3.00% APR and monthly compounding. What will be their monthly payment on this mortgage?
A young graduate has been offered a time-share on a condo in Steamboat Springs, Colorado. To be a part owner, the graduate must pay $1,860.00 at the end of each year for the next 15.00 years. If the graduates discount rate is 5.00%, what is the cost of this opportunity in todays dollars? In other words, what is the most the graduate should be willing to pay today instead of making payments?
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