Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thank you e McAbee is comparing two ways to make mortgage payments for her 220.000 loan with a 4.53% annual rate, 30 year amortization: regular

image text in transcribed

thank you

e McAbee is comparing two ways to make mortgage payments for her 220.000 loan with a 4.53% annual rate, 30 year amortization: regular monthly payments of $1,169.48 or biweekly payments of $584.74 If she chooses the biweekly payments, she will: make 24 payments each year of $584.74 and payoff the loan in 25.6 years make 25 payments each year of $584.74 and payoff the loan in 25.6 years c. make 24 payments each year of $584.74 and payoff the loan in 30 years make 26 payments each year of $584.74 and payoff the loan in 19.4 years

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

Recommended Textbook for

The Principles Of Project Finance

Authors: Rod Morrison

1st Edition

1409439828, 9781409439820

More Books

Students also viewed these Finance questions

Question

What is the main advantage to this tactic?

Answered: 1 week ago

Question

What administrative cost items are associated with this tactic?

Answered: 1 week ago

Question

What is the full-cost budget?

Answered: 1 week ago