Jack has obtained a $85.000 loan at 14 percent for 25 years and he has been charged a 2 percent loan origination fee. After three years, Jack has decided to sell the property. He has to pay the remaining loan balance when the property is sold. Calculate the amount he has to pay to the lender?

Answer rating: 100% (QA)

To calculate the remaining loan balance that Jack has to pay to the lender after three years we firs... View the full answer