Suppose you take out a 30 year mortgage for $250,000. If the…
Suppose you take out a 30 year mortgage for $250,000. If the interest rate per year is 6.60%, how much interest will you pay over the first 10 years of the loan? Enter your answer in whole dollars without a dollar sign. For example, if your answer is $54,609.25, just enter 54609.25.Your answer must be correct to within $2 in either direction.
Read DetailsAccording to the Fisher equation, if the nominal rate of int…
According to the Fisher equation, if the nominal rate of interest is 7% and the expected inflation rate is 2%, what is the approximate real rate of interest?Enter your answer as a percentage with two decimal places. Do not use a percent sign when entering your answer. For example, if your answer is 4.30%, enter 4.30 in the box.
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