Question: yes for #2 it should probably be interest payment not principal because i was wondering about that too then again maybe its just the payment


You just borrowed $300,000 to buy a house. You plan to pay off your loan by making equal monthly payments over the next 20 years. Suppose the interest rate your bank charges you is an APR of 6%, compounded semi-annually. What is the monthly payment? $2,149.29 $1,250 $2.467.78 $2.136.57 $2,300 What is the principal payback for the first month? $654.57 $2,136.57 $1,482 $1,800 $1,500 Find out the balance at the end of Year 5. $254,389 $225,000 $171,806 $210,000 $300,000 What is the interest payment for the first month in Year 6? $1500 $1256.33 $1250 $1800 $1344.89
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