Order the answer to: A mortgage broker offers to sell you a mortgage loan

Academic Help business-corporate-finance Order the answer to: A mortgage broker offers to sell you a mortgage loan

business-corporate-finance

Order the answer to: A mortgage broker offers to sell you a mortgage loan

Question A mortgage broker offers to sell you a mortgage loan contract that will pay $800 at the end of each month for the next 3 1/2 years, at which time the principal balance of $45,572 is due and receivable. What is the highest price you should pay for the contract if you require a return of at least 7.5% compounded monthly?
Subject business-corporate-finance
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