Question: What if The current monthly payment is $ 2 comma 1 1 8 . 5 4 and you have made every payment on time. The

What if The current monthly payment is $ 2 comma 118.54 and you have made every payment on time. The original term of the mortgage was 30years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6.625%(APR). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.)

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!