For a 20-year mortgage of $150,000 at 7% interest, one additional payment of $5,000 is paid on

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For a 20-year mortgage of $150,000 at 7% interest, one additional payment of $5,000 is paid on the mortgage after 2 years of making regular payments. How many monthly payments will be eliminated from the amortization because of this additional payment

Posted Date: May 09, 2024 03:03 AM

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For a 20-year mortgage of $150,000 at 7% interest, one additional payment of $5,000 is paid on

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To determine the number of monthly payments that will be eliminated from the amortization schedule due to the additional payment of 5000 after 2 years ... View the full answer

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