Consider a 30-year, traditional mortgage on a $220,000 property. With 30% down payment and a 3% APR. Mortgage payments are made monthly. What is the 216th payment? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67).

Answer rating: 100% (QA)

To find the 216th payment we need to know the monthly payment amount and how much of that payment go... View the full answer