Consider the following three individuals. Just after their 19th payment; Robert Dixon had a balance of
Question:
Consider the following three individuals. Just after their 19th payment;
• Robert Dixon had a balance of $80,000 on a 9%, 15-year mortgage;
Wanda Harper had a balance of $80,000 on a 9%, 20-year mortgage; and
• Tony Zang had a balance of $80,000 on a 9%, 30-year mortgage.
How much interest did each individual pay on the 20th payment?
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Given Data interest rate 075 per month each indi...View the full answer
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