Rahquez and Nathan take out a 30 year mortgage for $383,000 at the APR of 9.8%,...
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Rahquez and Nathan take out a 30 year mortgage for $383,000 at the APR of 9.8%, compounded monthly. (a) What will there monthly payments be? $ (b) After they had made 8 years of the payments (96 payments) they decide to refinance the remaining loan balance. What is the balance remaining on the original loan of $383,000? (c) Rahquez and Nathan will now refinance the remaining balance for 25 years at the APR of 6.9%, compounded monthly. What will be their new monthly payment amount? (d) What will be the balance on their new loan 4 years after the refinance? LA Rahquez and Nathan take out a 30 year mortgage for $383,000 at the APR of 9.8%, compounded monthly. (a) What will there monthly payments be? $ (b) After they had made 8 years of the payments (96 payments) they decide to refinance the remaining loan balance. What is the balance remaining on the original loan of $383,000? (c) Rahquez and Nathan will now refinance the remaining balance for 25 years at the APR of 6.9%, compounded monthly. What will be their new monthly payment amount? (d) What will be the balance on their new loan 4 years after the refinance? LA
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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