Mindy has a 20-year adjustable rate mortgage with a rate of 3.6% for the first 4 years.

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Mindy has a 20-year adjustable rate mortgage with a rate of 3.6% for the first 4 years. The monthly payment is $1,375.01. The amount of the mortgage is $235,000. What is the remaining balance after 4 years rounded to the nearest dollar?

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Financial Algebra advanced algebra with financial applications

ISBN: 978-0538449670

1st edition

Authors: Robert K. Gerver

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Posted Date: May 04, 2024 09:20 AM

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Mindy has a 20-year adjustable rate mortgage with a rate of 3.6% for the first 4 years.

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To solve this problem we need to calculate the remaining balance after 4 years of making the mon... View the full answer

Financial Algebra advanced algebra with financial applications

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