If the mortgage interest rate is 7 percent approximately, Ask an Expert

Economics

Suppose home owners owe $5 trillion in mortgage loans. a. If the mortgage interest rate is 7 percent, approximately how much are home owners paying in annual mortgage interest? b. If the interest rate drops to 6 percent, by how much will annual percentage decline?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9439913

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