Question: Abhar bought a house for $525,000 using a 30-year fixed rate mortgage with a 6% annual rate of interest. If Abhar decided to pay $3,200/month
Abhar bought a house for $525,000 using a 30-year fixed rate mortgage with a 6% annual rate of interest. If Abhar decided to pay $3,200/month on a monthly basis, to the nearest month, how many months would he pay off his mortgage early?
| He would pay off full mortgage off in 360 months | ||
| 22 | ||
| 15 | ||
| 30 |
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