A 30-year mortgage for $145,000 is issued at a 6% A nominal interest rate. (a) What is
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A 30-year mortgage for $145,000 is issued at a 6% A nominal interest rate.
(a) What is the monthly payment?
(b) How long does it take to payoff the mortgage, if $1000 per month is paid?
(c) How long does it take to payoff the mortgage, if 20% extra is paid each month?
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a 86249 b The mortgage would be paid off after the 256 payment ...View the full answer
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