Shirley Trembley buys a house for $186,200. She puts 20% down and obtains a simple interest amortized loan for the balance at 11 3 8% interest for thirty years. Ten years and six months later, she sells her house. Find the unpaid balance on her loan. (Round your answer to the nearest cent.) $
Shirley Trembley buys a house for $186,200. She puts 20% down and obtains a simple interest amortized loan for the balance at 11 3 8% interest for thirty years. Ten years and six months later, she sells her house. Find the unpaid balance on her loan. (Round your answer to the nearest cent.) $
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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Shirley Trembley buys a house for $186,200. She puts 20% down and obtains a simple interest amortized loan for the balance at
11
%
| 3 |
| 8 |
interest for thirty years. Ten years and six months later, she sells her house. Find the unpaid balance on her loan. (Round your answer to the nearest cent.)
$
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