Alexandra took out a mortgage of $791,000 for a house and just made the 79th end of month payment. Interest on the loan was 4.43% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are her monthly payments? P/Y = I/Y = % BAL= $ positive value) C/Y = PV = $ PMT= $ N= FV = $ 2) What is her current outstanding balance after the 79th payment? (enter a
Alexandra took out a mortgage of $791,000 for a house and just made the 79th end of month payment. Interest on the loan was 4.43% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are her monthly payments? P/Y = I/Y = % BAL= $ positive value) C/Y = PV = $ PMT= $ N= FV = $ 2) What is her current outstanding balance after the 79th payment? (enter a
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Alexandra took out a mortgage of $791,000 for a house and just made the 79th end of
month payment. Interest on the loan was 4.43% compounded monthly and the
mortgage has a period of 19 years. Round ALL answers to two decimal places if
necessary.
1) What are her monthly payments?
P/Y =
I/Y =
%
BAL= $
positive value)
C/Y =
PV = $
PMT= $
N =
FV = $
2) What is her current outstanding balance after the 79th payment?
(enter a
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