Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Points: 0 of 1 save You have just told your house for S1,100,000 in cash Yout mortgage was originally a 30-year mortgage with monthly payments

image text in transcribed
Points: 0 of 1 save You have just told your house for S1,100,000 in cash Yout mortgage was originally a 30-year mortgage with monthly payments and an initial balance of 5300.000 The mortgage is currently exactly 18 years old, and you have just made a payment. If the interest rate on the mortgage is 775% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note Be careful not to round any intermediate stop food than six deomal places) Cash that remains after payult of mortgage is 8(Round to the nearest dollar)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

7. List five reasons that projects fail.

Answered: 1 week ago