A 30 year mortgage loan is made at an interest rate of 3.5% APR. The borrower decides
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A 30 year mortgage loan is made at an interest rate of 3.5% APR. The borrower decides to pay $1,000 each month instead of the minimum payment. How many years will it take for the loan to be paid off? Assume the loan amount to be $100,000
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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