Question
7) You just sighed a 30-year, variable rate mortgage with 5% annual rate for $300,000. If the interest rate goes up to 6% per year,
7) You just sighed a 30-year, variable rate mortgage with 5% annual rate for $300,000. If the interest rate goes up to 6% per year, how much does your monthly payment go up?
8) You have a 30-year mortgage with 6% annual rate and the principal amount of $250,000. The current monthly payment is $1,498.89. If you pay $200 extra per month, how soon can you pay it off?
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
