Just before the 20th payment, Family A had a balance of $150,000 on a 9 , 30year mortgage Family B had a balance of $150,000 on a 9 , 15year mortgage Family C had a balance of $150,000 on a 9 , 20year mortgage All of the APRs are compounded monthly How much interest did each family pay on its 20th ...

Given i 075 per month mortgages for families A ...

Just before the 20th payment, Family A had a balance of $150,000 on a 9%, 30year mortgage.

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Just before the 20th payment,

Family A had a balance of $150,000 on a 9%, 30‐year mortgage.
Family B had a balance of $150,000 on a 9%, 15‐year mortgage.
Family C had a balance of $150,000 on a 9%, 20‐year mortgage.

All of the APRs are compounded monthly. How much interest did each family pay on its 20th payment.

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 12, 2018 11:32 AM

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Just before the 20th payment, Family A had a balance of $150,000 on a 9%, 30year mortgage.

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Fundamentals of Engineering Economics

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