ABC Bank sanctions a loan application for a 25 year mortage loan for US100,000. The interest rate on the loan is 12% per annum and the borrower is required to make equal monthly payments to repay the...


ABC Bank sanctions a loan application for a 25 year mortage loan for US100,000.  The interest rate on the loan is 12% per annum and the borrower is required to make equal monthly payments to repay the loan in 25 years.  If the market interest rate goes down to 10% per annum, what will the loan be worth?(Answer up to two decimal places)



Jun 09, 2022
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