Buddy gets a new mortgage with ABC Finance Inc.It's for $100,000 at an interest rate of7.2% with a monthly mortgage payment of $720.25 for an initial period of five years.However, it will take 25 years for Buddy to completely pay off this debt.This entireperiod is referred to as what?

Answer rating: 100% (QA)

The entire period during which Buddy will be making monthly mortgage payments in order to co... View the full answer