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You take out a 20 year mortgage of 85000 to purchase a

You take out a 20 year mortgage of $85,000 to purchase a large vacation home in Kansas (heck, it's Kansas - you expected it to be expensive?). Your annual payment to the bank is $7,000 but you forgot what the interest rate was. Use your financial knowledge to figure out (approximately) what the interest rate you received should be.

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Finance Basics: You take out a 20 year mortgage of 85000 to purchase a

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Finance Basics: You take out a 20 year mortgage of 85000 to purchase a

Reference No:- TGS01492218

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