Mr. John made a Price Level Adjusted Mortgage

Answer of Mr. John made a Price Level Adjusted Mortgage for $1 Only (Instant Download)

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Mr. John made a Price Level Adjusted Mortgage (PLAM) of $100,000 loan for 30 years. Nominal interest rate is equal to 24% and payments are made monthly. The lender and borrower agreed that loan balance will be indexed to the CPI (Consumer Price Index) and adjusted annually. If the CPI is equal to 12% at the end of the first year, what is the value of the each monthly payments during the second year? (Answer is rounded)

1028.61
2001.60
1152.05
2241.80
2201.77

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