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You bought a house for $470,000 with a 30 year bank loan that has semiannual payments at an interest rate of 3% APR (semiannual compounding).
You bought a house for $470,000 with a 30 year bank loan that has semiannual payments at an interest rate of 3\% APR (semiannual compounding). Immediately after year 8 (22 years left on the loan), you will resell the house for $564,000 and completely pay off the rest of the loan. How much do you have to pay the bank to completely pay off the loan? $458,882.37 $382,152.15 $364,417.33 $382,401.97
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