ou took out a fully amortizing 30 year mortgage with the initial balance of $7036. This mortgage has a fixed interest rate at 3%. After you completed five full years of monthly payments (60 monthly payments have passed), what is the remaining balance on your mortgage? Round your answer to the nearest cent (e.g. if your answer is $7000.9873, enter 7000.99).
ou took out a fully amortizing 30 year mortgage with the initial balance of $7036. This mortgage has a fixed interest rate at 3%. After you completed five full years of monthly payments (60 monthly payments have passed), what is the remaining balance on your mortgage? Round your answer to the nearest cent (e.g. if your answer is $7000.9873, enter 7000.99).
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
Related questions
Question
ou took out a fully amortizing 30 year mortgage with the initial balance of $7036. This mortgage has a fixed interest rate at 3%. After you completed five full years of monthly payments (60 monthly payments have passed), what is the remaining balance on your mortgage? Round your answer to the nearest cent (e.g. if your answer is $7000.9873, enter 7000.99).
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