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8. A mortgage in the amount of 300,000 is repaid with 360 end of month payments of X. The nominal rate of interest is 6%
8. A mortgage in the amount of 300,000 is repaid with 360 end of month payments of X. The nominal rate of interest is 6% convertible monthly for the mortgage. The borrower experiences some financial troubles and only pays 2X for payments 13 through 24, only 32X for payments 229 through 240 and misses payment number 300. As for the rest of the first 359 payments, they are all paid as scheduled and in their full amounts. How much will the actual 360 th payment have to be in order that the mortgage be paid in full just after this payment is made
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