Question
Seven years ago, lan purchased a $265,000 home with a 30-year mortgage at 3.5%. Having recently lost his job, he can no longer afford to
Seven years ago, lan purchased a $265,000 home with a 30-year mortgage at 3.5%. Having recently lost his job, he can no longer afford to make his mortgage payments. If he currently owes $225,368.29 and his lender offered to extend the loan by 7 years at 3.25%, what will be his new mortgage payment?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
