Question: Congratulations your $ 5 0 0 , 0 0 0 house loan has been approved! Batrez Bank has given you the 3 0 year 4
Congratulations your $ house loan has been approved! Batrez Bank has given you the year compounded monthly interest rate loan.
It's been exactly months after you bought the house.You decide to pay an additional $ per month starting this month to try to pay off quicker.
What is the balance before you make the payment?
How many months would it take to pay off the loan at the new rate?
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