Question
You are applying for a mortgage loan at 5.75% over 30 years with monthly payments. The home you are considering is at a price of
You are applying for a mortgage loan at 5.75% over 30 years with monthly payments. The home you are considering is at a price of $279,000. Lenders are offering 80% loan to value mortgages to you. What will be your monthly mortgage payment for principal and interest?
what will be the balance of the loan after you have paid for a full 10 years?
how long will it take you to pay off 75% of the loan?
what was the original balance of the loan?
how much interest would you pay during the full life of the loan?
what if you paid an extra $75 each month. How long would it take to pay off the loan in full ?
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Essentials Of Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
7th Edition
0073368717, 978-0073368719
