A couple purchased $300,000 home 14 years ago by paying and sing a 30-year more 145 compounded on Ca) How much money was bored by the couple $ (c) Now that 14 years are gone, what is the outstanding balance of the on? $ (d) The loan is rengeted. This means that you are taking a new loan with the amount of the being the standing balance that you found in parterretion, the new interest rates and it is decided that the outstanding balance your new loan will be paid back over a period of 6 years. What are the new monthly payment 5 A couple purchased a $300,000 home 14 years ago by paying 40% down and signing a 30-year mortgage at 14% compounded monthly (a) How much money was borrowed by the couple? (b) What are the monthly payments? (c) Now that 14 years are gone, what is the outstanding balance of the loan? (d) The loan is renegotiated. (This means that you are taking a new loan with the amount of the loan being equal to the outstanding balance that you found in part (c)). Alter renegotiation, the new interest rate is 7% and it is decided that the outstanding balance [your new loan) will be paid back over a period of 6 years. What are the new monthly payments? A couple purchased a $300,000 home 14 years ago by paying 40% down and signing a 30-year mortgage at 14% compounded monthly (a) How much money was borrowed by the couple? $ (b) What are the monthly payments? $ (c) Now that 14 years are gone, what is the outstanding balance of the loan? $ (d) The loan is renegotiated. This means that you are taking a new loan with the amount of the loan being equal to the outstanding balance that you found in part (c)). After renegotiation, the new interest rate is 7% and it is decided that the outstanding balance your new loan) will be paid back over a period of 6 years. What are the new monthly payments? $