You get a $210,000 mortgage loan for 25 years with an APR of 12% and monthly payments. In 16 years, you decide to sell your house and pay off the mortgage. What is the principal balance of the loan? (When calculating the answer, round the monthly loan payment to 2 decimal places. Round your answer to 2 decimal places.)

Answer rating: 100% (QA)

Calculation of monthly payments Amount borrowed 210000 Pe... View the full answer