livia recently bought a house for $355,000 using a 10 year home loan with 4.25% interest rate. She used 15% of the amount towards the downpayment and took loan for the balance amount. How many months sooner she can payoff the entire loan if she decides to make an additional payment of $125 every month? Group of answer choices approximately 6 months approximately 9 months approximately 4 months approximately 13 months. Please answer fast i give you upvote.
livia recently bought a house for $355,000 using a 10 year home loan with 4.25% interest rate. She used 15% of the amount towards the downpayment and took loan for the balance amount. How many months sooner she can payoff the entire loan if she decides to make an additional payment of $125 every month? Group of answer choices approximately 6 months approximately 9 months approximately 4 months approximately 13 months. Please answer fast i give you upvote.
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
Related questions
Question
Olivia recently bought a house for $355,000 using a 10 year home loan with 4.25% interest rate. She used 15% of the amount towards the downpayment and took loan for the balance amount.
How many months sooner she can payoff the entire loan if she decides to make an additional payment of $125 every month? Group of answer choices approximately 6 months approximately 9 months approximately 4 months approximately 13 months.
Please answer fast i give you upvote.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education