You bought a house 208 months ago and took out a mortgage (an installment) loan for...
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You bought a house 208 months ago and took out a mortgage (an installment) loan for $130,000 to buy the house. This is a 30-year loan that requires monthly payments (and the first payment was due one month after taking the loan). The APR for the loan is 36%. You just made the month 208 payment and are interested to know how much of your next month payment will go towards the repayment of principal? That amount is Calculate your answer to the nearest $.01 and do not use the $ sign. You bought a house 208 months ago and took out a mortgage (an installment) loan for $130,000 to buy the house. This is a 30-year loan that requires monthly payments (and the first payment was due one month after taking the loan). The APR for the loan is 36%. You just made the month 208 payment and are interested to know how much of your next month payment will go towards the repayment of principal? That amount is Calculate your answer to the nearest $.01 and do not use the $ sign.
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Related Book For
Financial Management Theory And Practice
ISBN: 978-0176583057
3rd Canadian Edition
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
Posted Date:
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