Question
A Couple is making monthly payments of $1,845.50 to payoff a $300,000, 25 year, 3.99% mortgage. They put a $50,000 down payment on the home.
A Couple is making monthly payments of $1,845.50 to payoff a $300,000, 25 year, 3.99% mortgage. They put a $50,000 down payment on the home.
Round ALL final answers to the nearest penny (cent), NO dollar signs, USE commas where needed
What is the Outstanding Balance after 12 years of payments?
How much of the loan amount has been paid off after 12 years of payments?
What is the Owner's Equity after 12 years of payments?
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Handbook Of Financial Intermediation And Banking
Authors: Anjan V. Thakor, Arnoud Boot
1st Edition
0444515585, 978-0444515582
