Question
A couple has decided to purchase a $130000 house using a down payment of $14000. They can amortize the balance at 7% over 30 years.
A couple has decided to purchase a $130000 house using a down payment of $14000. They can amortize the balance at 7% over 30 years.
a) What is their monthly payment?
Answer = $???
b) What is the total interest paid?
Answer = $???
c) What is the remaining principal on the loan after 5 years?
Answer = $???
d) What is the remaining principal on the loan after 25 years?
Answer = $ ???
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Personal Finance Building Your Future
Authors: Robert B. Walker, Kristy P. Walker
1st edition
9780077861728, 978-0073530659
