You obtain a $150,000 home loan for 25 years at 4.8% interest compounded monthly. After 8 years
Fantastic news! We've Found the answer you've been seeking!
Question:
You obtain a $150,000 home loan for 25 years at 4.8% interest compounded monthly. After 8 years the rate is raised to 6.3%. Compute: The new payment if the term of the loan is to remain the same. The term of the loan if the payment remains the same. What is the size of the concluding payment?
Related Book For
College Algebra Graphs and Models
ISBN: 978-0321845405
5th edition
Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna
Posted Date: