Question: Please show how you arrive at your answer. The (FV) that I arrive at isn't the correct one on my calculator. A fully amortizing mortgage
Please show how you arrive at your answer. The (FV) that I arrive at isn't the correct one on my calculator.
A fully amortizing mortgage loan is made for $80,000 at 6% interest for 25 years. Payments are to be made monthly.
Calculate:
Outstanding loan balance if the loan is repaid at the end of year 10.
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