Question
You have a loan for $200,000 at 5% interest over 15 years. In the eighth year you pay off $5000 a)If your payment doesn't change,
You have a loan for $200,000 at 5% interest over 15 years. In the eighth year you pay off $5000
a)If your payment doesn't change, how much longer until the loan is paid off?
b)if the loan re-amortized, or the maturity date stays the same, what would the new payment be?
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National Finance A Chinese Perspective
Authors: Yunxian Chen, Heming Yong
1st Edition
9813360917, 978-9813360914
