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Nov 28 2017 09:45pm
I know this is a week old, but I read it as the interest rate is 4% annually, but since it compounds monthly it ends up being 1/3% monthly. After the first month you would owe $66,666.67 of interest, so a $200,000 payment would reduce the principle by 200,000 - 66,666.66, or 133,333.33.
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Nov 29 2017 05:05am
Quote (RageATM0998 @ Nov 29 2017 03:45pm)
I know this is a week old, but I read it as the interest rate is 4% annually, but since it compounds monthly it ends up being 1/3% monthly. After the first month you would owe $66,666.67 of interest, so a $200,000 payment would reduce the principle by 200,000 - 66,666.66, or 133,333.33.


it's alright exams are over

it's a deferred annuity qn
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