najuas317 najuas317

18-01-2023
Mathematics

Answered

3. Ato Liku purchases a house for Br. 250, 000. He makes a 20% down payment, with a balance amortized by a 30 year mortgage at an annual interest rate of 12% compounded monthly.
a) Determine the amount of the monthly mortgage payment.
b) What is the total amount of interest Ato Liku will pay over the life of the mortgage?
c) Determine the amount of the mortgage Ato Liku will have paid after 10 years?

Answer :

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