Question: QUESTION 17 10 points Save A Loan Future Value We can also find the remaining balance on a mortgage (see video). To do this, we

QUESTION 17 10 points Save A Loan Future Value We can also find the remaining balance on a mortgage (see video). To do this, we solve for the future value based on time relative to loan origination Imagine you purchased a home 5 years ago and are wondering how much principal you have remaining on your mortgage. This means the loan is five years old, so you would like to find the future value where Nis 5 Consider the example below and select the calculator functions that fit this description A 30-year loan was taken out 8 years ago for $320,000. The interest rate on the loan 37% with monthly compounding. How much principal remains to be paid off on this loan? ON=96 I/Y0.3083 PV= 320,000 PMT= . 1.472.90 FV. CPT 0 N=360 IY=0.3083 PV= 320,000 PMT= -1,472.90 FV=CPT ON=8 1/Y-37 PV: 320,000 PMT= -1,472 90 FV=CPT ON=8 I/Y 3.7 PV- 320,000 PMT 0 FVH CPT QUESTION 18 10 points Saved

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