You owe $200,000 on a fixed mortgage with 20 years remaining to the end of the mortgage. If the APR is 4.0% BUT you can only afford to make monthly payments of $1,000, how much will you still owe and the end of the 20 years? How long will it take you to pay off the mortgage?

Answer rating: 100% (QA)

PV 200000 Number of years 20 Number of Periods 2012 24... View the full answer