How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage,

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How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage, assuming annual compounding? P/YR = 1

Get PMT first.

P/YR = 1

PV=-85,000, I/YR=5.5, N=1*25=25, PMT =?

Then, 12 INPUT , 12 AMORT

a. 3,059.287

b. 3,342.167

c. 3,5841.369

d. 3,8742.382

Posted Date: May 19, 2024 09:12 AM

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How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage,

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