Suppose you obtain a home loan for 300000 at a rate of 4, Ask an Expert

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Suppose you obtain a home loan for $300,000, at a rate of 4% for a 15 year term. After 10 years, you win the lottery and want to pay off the rest of what you owe. How much will you need to pay?

Is there a way of doing this question using present value formula?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92269163

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