The mortgage on your new home is $176, 758. The loan is at 5.5% interest for 30 years. How many months will it take you to pay off the mortgage if you make an extra $65 payment per month?
The mortgage on your new home is $176, 758. The loan is at 5.5% interest for 30 years. How many months will it take you to pay off the mortgage if you make an extra $65 payment per month?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter5: Making Automobile And Housing Decisions
Section: Chapter Questions
Problem 10FPE
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Transcribed Image Text:The mortgage on your new home is $176, 758. The loan is at 5.5% interest for 30 years. How many months will it take you to pay off the mortgage if you make an extra $65 payment per month?
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