Hi everybody, can someone help me with this:
A/
Calculate the monthly cost of a 30-year repayment mortgage of £200,000, where interest is applied to the loan outstanding at the beginning of each year and the mortgage rate is 10% per anum.
B/
Re-calculate the monthly cost assuming that the interest is applied to the loan every month ( 12 times a year.hint.Use APR in the place of r).
Please
A/
Calculate the monthly cost of a 30-year repayment mortgage of £200,000, where interest is applied to the loan outstanding at the beginning of each year and the mortgage rate is 10% per anum.
B/
Re-calculate the monthly cost assuming that the interest is applied to the loan every month ( 12 times a year.hint.Use APR in the place of r).
Please