Question: Please give answer using PV formula as well as show calculations done with a non financial calculator nor excel. Thank you The Brown family recently

 Please give answer using PV formula as well as show calculations

Please give answer using PV formula as well as show calculations done with a non financial calculator nor excel. Thank you

The Brown family recently bought a house. The house has a 30 year, $165,000 mortgage with a nominal interest rate of 8 percent. Payments are made at the end of each month How much will be paid to interest in month 377 a) $576.75 b) $1070.08 c) There is insufficient data to calculate a dollar figure d) $516.44

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!