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Department
Actuarial Science
Course
ACT230H1
Professor
Keith Sharp
Semester
Fall

Description
You pay 620000 for a house and finance it with a down payment plus a mortgage for LThe interest rate is 9 per annum compounded semiannually Payments are at the end of each month with amortization over 25 yearsThe first monthly payment has an interest component of 368156You sell the house just after the 60 th payment for a price representing a 6 per year effective house price rise rateYou pay your lawyer 1000 pay the City 2 of the sale price and pay the broker 6 of the sale price and pay
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