You have a 20-year, $225,000 mortgage at 4% interest. What is the amount of your mortgage prepayment.

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If you pay $1,700 as your second mortgage payment?

Assume your first payment was the agreed upon amount?

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Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: Jun 07, 2023 11:56 PM

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You have a 20-year, $225,000 mortgage at 4% interest. What is the amount of your mortgage prepayment.

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To calculate the regular monthly payment we can use the formula for calculating the monthly ... View the full answer

Smith and Roberson Business Law

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