Purchase of a mortgage at a
Example 2: Enter the numbers in the boxes
below. Do not enter a number in the box next to "Compute". Then
Try with different required yields and see how the amount you can pay
You are considering the purchase of a mortgage. There are
12 payments a year of $859.68 a month. 59 payments are left. You wish to purchase this
mortgage to yield you 13% p.a. How much should you pay? Answer $37,332.84. As follows.