Question
Recently I bought a house but really do not know a lot about time value of money. I took out a $450,000 loan (pv) w/
Recently I bought a house but really do not know a lot about time value of money. I took out a $450,000 loan (pv) w/ a 4% interest rate. Payments are made monthly in the amount of $2,726.91. How long until my home is completely paid off (0=fv)? Using the same information as above how much faster (n) could I pay off my house if I added an extra $500 to each monthly payment?
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Payroll Accounting 2016
Authors: Bernard J. Bieg, Judith Toland
26th edition
978-1305665910, 1305665910, 1337072648, 978-1337072649
