Question
You take out a 20-year $300,000 mortgage loan with an APR of 12% and monthly payments. In 10 years you decide to sell your house
You take out a 20-year $300,000 mortgage loan with an APR of 12% and monthly payments. In 10 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?(Round the monthly loan payment to 2 decimal places when computing the answer.Round your answer to 2 decimal places.)
What is the principle balance on the loan?
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
