The largest investment that most people make is buying a house. However, it is unusual to buy a house with cash. Most people borrow the money from a company that issues mortgages. The same process used to repay mortgages is frequently used to repay student loans and car loans. In Chap. 5 we mentioned amortization. In this chapter we study the process in detail.
KeywordsInterest Rate Time Diagram Nominal Interest Rate Saving Account Spreadsheet Program
Unable to display preview. Download preview PDF.