You are applying for a mortgage loan at 5 . 7 5 % over 3 0 years

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You are applying for a mortgage loan at $5.75 %$ over $30$ years with monthly payments. The home you are considering is at a price of $ $229, 000 .$ Lenders are offering $80 %$ loan to value mortgages to you.

a. What will be your monthly mortgage payment for principal and interest?

b. What will be the balance of the loan after you have paid for a full $10$ years?

Related Book For answer-question

Global Strategy

ISBN: 9780357512364

5th Edition

Authors: Mike W. Peng

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Posted Date: May 07, 2024 11:02 AM

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You are applying for a mortgage loan at 5 . 7 5 % over 3 0 years

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1 Compound interest is interest calculated on the initial principal which also includes all of the a... View the full answer

Global Strategy

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