Question
Let's assume you took out a $300,000, 30-year mortgage with an annual interest rate of 8% and monthly payments of $2,201.29. Because you have made
Let's assume you took out a $300,000, 30-year mortgage with an
annual interest rate of 8% and monthly payments of $2,201.29.
Because you have made 15 years worth of payments (that's 180
monthly payments) there are
another 180 monthly payments left
before your mortgage will be totally paid off. How much do you still
owe on your mortgage?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
