You have just obtained a 30-year mortgage of $450,000.The loan has a 15% APR with monthly compounding

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You have just obtained a 30-year mortgage of $450,000.The loan has a 15% APR with monthly compounding and requires equal monthly payments beginning in one month and continuing until you have made 360 monthly payments.What will the monthly payments be?How much is the remaining principal immediately after the payment you make five years from today?

Posted Date: May 18, 2024 11:11 PM

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You have just obtained a 30-year mortgage of $450,000.The loan has a 15% APR with monthly compounding

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