A mortgage broker offers to sell you a loan contract that would provide you with end-of-month payments of $900 for the next $2 \frac{3}{4}$ years. In addition, at the end of the $2 \frac{3}{4}$ year period, you will also receive a lump sum payment of $37,886. What should you pay for the contract, if you require a rate of return of 7.2% compounded monthly?

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The Answer of A mortgage broker offers to sell you a loan contract that would provide you with end-of-month payments of $900 for the next $2 \frac{3}{4}$ years. In addition, at the end of the $2 \frac{3}{4}$ year period, you will also receive a lump sum payment of $37,886. What should you pay for the contract, if you require a rate of return of 7.2% compounded monthly?

A Mortgage Broker Offers to Sell You a Loan Contract 2342 \frac{3}{4}243​

A Mortgage Broker Offers to Sell You a Loan Contract $2 \frac{3}{4}$