Question
Anne reviews the status of her home mortgage schedule for the month of March 2019: date item balance 2019-03-01 outstanding mortgage loan balance $600,000 2019-03-31
Anne reviews the status of her home mortgage schedule for the month of March 2019:
| date | item | balance |
| 2019-03-01 | outstanding mortgage loan balance | $600,000 |
| 2019-03-31 | total required monthly payment | $9,000 |
| 2019-03-31 | Interest component of monthly payment | $3,500 |
On 2019-03-31, Anne makes a payment of $15,000 rather than the required amount. What will be her outstanding mortgage loan balance immediately after the payment is made?
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Finance And Sustainability
Authors: William Sun, Celine Louche, Roland Perez
1st Edition
1780520921, 978-1780520926
