Let's assume you took out a $300,000, 30-year mortgage with an annual interest rate of 8% and monthly payments of $2,201.29. Because you have made 15 years worth of payments (that's 180 monthly payments = [15 x 12]) there are another 180 monthly payments left before your mortgage will be totally paid off. How much do you still owe on your mortgage? %3D

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
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|Let's assume you took out a $300,000, 30-year mortgage with an annual
interest rate of 8% and monthly payments of $2,201.29. Because you have
made 15 years worth of payments (that's 180 monthly payments = [15 x
12]) there are another 180 monthly payments left before your mortgage
will be totally paid off. How much do you still owe on your mortgage?
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Notes
731
A 4 12/1
Transcribed Image Text:|Let's assume you took out a $300,000, 30-year mortgage with an annual interest rate of 8% and monthly payments of $2,201.29. Because you have made 15 years worth of payments (that's 180 monthly payments = [15 x 12]) there are another 180 monthly payments left before your mortgage will be totally paid off. How much do you still owe on your mortgage? Activate Windows Go to Settings to activate Windows Notes 731 A 4 12/1
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