(Answered) Does anybody know how to do this question please show the

Finance

Does anybody know how to do this question? Please show the formula, thank you very much!

Purchase price=150,000

L/V=85%

Monthly payment

Interest rate=3%

30 years term

Private mortgage insurance cost: 9%/28%

So what is the loan balance at the end of 10 years of scheduled payments?

And what is the amount of private mortgage insurance added to each payment in the first year?

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Financial Management, Finance

Category:- Financial Management
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