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help on both of them. 6.5 1.42 points HarMathAp11 &.5.030 My Notes Ask Your T A young couple buying their first home borrow $70,000 for
help on both of them. 6.5 1.42 points HarMathAp11 &.5.030 My Notes Ask Your T A young couple buying their first home borrow $70,000 for 30 years at 7.8%, compounded monthly, and make one-time payment of $2000 along with their 60th payment. (o) Find the unpaid balance immediately after they pay the extra $2000 and their 6oth payment. (Round your answer to the nearest cent.) payments of $503.91. After S years, they are able to mak (b) How many regular payments of $503.91 will amortize the unpaid balance from part (a)? (Round your answer to the nearest whole number.) payments (e) How much will the couple save over the life of the loan by paying the extra $2000? (Use your answer from part (b). Round your answer to the nearest cent. Need Help? ReadL wasch My Notes Ask Your Tea 01.48 points HarMahAp11 6.5036 Mi Some banks now have biweekly mortgages (that is, with payments every other week). Compare a 20-year, $90,000 loan at 8.4% by finding the payment sue and the total interest paid over the life of the loan under each of the following conditions. (Round your answers to the nearest cent.) (a) Payments are monthly, and the rate is 8.4%, compounded monthly payment size total interest (b) Payments are biweekly, and the rate is s.4%, compounded bweekly. (Assume a standard S2-week year.) payment size total interest
help on both of them. 6.5
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