Adding a small amount to your monthly home mortgage payment will shorten the life of your loan.

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Adding a small amount to your monthly home mortgage payment will shorten the life of your loan. Adding $10 per month to your $540 monthly mortgage payment will trim how many months from a 30 year, 5% mortgage of $100,000? Select the closest answer.

(a) 25 months

(b) 19 months

(d) 6 months

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Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Question Posted: Dec 03, 2018 12:42 PM

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Adding a small amount to your monthly home mortgage payment will shorten the life of your loan.

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PA 512 N 100000 550 per month so PA 512 N 1818182 Using G...View the full answer

Engineering Economy

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