Question
You have a 25-year $800,000 mortgage with a 4.5% rate of interest (compounded monthly) that you make monthly payments on. What is the balance of
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You have a 25-year $800,000 mortgage with a 4.5% rate of interest (compounded monthly) that you make monthly payments on. What is the balance of the loan at the end of year 12?
$538,450
$524,450
$528,450
$534,450
$542,450
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Acct 2302 Managerial Accounting
Authors: Fred Phillips Stacey Whitecotton, Robert Libby
1st Edition
1259135624, 978-1259135620
