Business, 01.11.2019 05:31 chancegodwin5

You purchased a home on january 1, 1985 with a $100,000 mortgage requiring 30 equal annual payments at 10% interest with the first payment due on january 1, 1986. the bank sold your mortgage to an investor on january 1, 1992, immediately after receiving your 7th payment. the yield to the investor is 8%. determine the bank’s overall return on its investment.

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You purchased a home on january 1, 1985 with a $100,000 mortgage requiring 30 equal annual payments...