You have decided that your company has outgrown the warehouse described in the previous problem. You have received an offer from someone willing to purchase the warehouse for $1,200,000. If you accept this offer, how much money will you have left over from the sale after you have paid off the balance of the loan? As a reminder, the original loan was a 15-year, 6% APR (monthly) loan with monthly payments with an original amount borrowed of $1,500,000. You have just made your 84th payment. for $1,500,000

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Based on the information provided you will still owe some money on the loan even after selling the w... View the full answer