Liz has had a mortgage with Everyday Bank for the past 3 years. The original balance of the mortgage was $300,000.00 and her original monthly payment was $1,000.00. During the first year Liz made an extra payments of $12,000. At the beginning of the second year she increased her monthly payments by $200 per month and is now paying $1,200 per month. She also made an extra payment in the second year of $6,000. In the third year Liz made two extra payments to her mortgage totaling $10,000. What is the current balance of Liz's Mortgage Cash Account?

Answer rating: 100% (QA)

To calculate the current balance of Lizs mortgage we need to consider the original balance t... View the full answer