was financed with a 6% (Canada, so semi-annual compounding) 25 year mortgage. a. b. How much would your monthly payment be? 38 months later, you were transferred to Vancouver. You sold the Calgary house for $590,000. After paying 6% commission and $500 in legal fees, how much money would you realize from the sale?
was financed with a 6% (Canada, so semi-annual compounding) 25 year mortgage. a. b. How much would your monthly payment be? 38 months later, you were transferred to Vancouver. You sold the Calgary house for $590,000. After paying 6% commission and $500 in legal fees, how much money would you realize from the sale?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Carry atleast 6 decimal places on interest calculations. Please provide step by step calculations or excel work and solve by canadian system rules.
Transcribed Image Text:5.
You bought a house in Calgary in 2020 for $450,000 with 25% down. The rest
was financed with a 6% (Canada, so semi-annual compounding) 25 year
mortgage.
a.
b.
How much would your monthly payment be?
38 months later, you were transferred to Vancouver. You sold the Calgary
house for $590,000. After paying 6% commission and $500 in legal fees,
how much money would you realize from the sale?
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