What price are you effectively paying for the house

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Reference no: EM131324872

Suppose you are considering acquiring a house by assuming the remainder of the existing 30-year mortgage on the property. It there are 327 fixed monthly payments of $1,041.23 left to be paid, with the first payment being due exactly one month after you assume the loan, what price are you effectively paying for the house if your bank is quoting an interest rate of 0.5208% per month on similar loans?

Reference no: EM131324872

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