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2)What is the remaining balance on a $325,000.00 mortgage after 85 months? The mortgage is a a standard mortgage (360 months) with monthly payments and
2)What is the remaining balance on a $325,000.00 mortgage after 85 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.80%.
$290,167 |
$294,853 |
$317,747 |
$278,910 |
$278,081 |
4)Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.70%. What portion of the payments during the first 31 months goes toward interest?
82.86% |
79.39% |
84.08% |
85.83% |
80.48% |
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