Question
You just bought a house and have a mortgage of $200,000. The mortgage is for 30 years and has portage rate of 8 percent annually.
You just bought a house and have a mortgage of $200,000. The mortgage is for 30 years and has portage rate of 8 percent annually. After 36 payments (3 years)
A. (7 pts) What will be the remaining balance on your mortgage? B. (7 pts) What is the cumulate interest you have paid over the 36 periods?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
978-0078025914
