This year 10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loan, the rest has been going towards interest. You see that you still have 120,730 left to pay on your loan. Your house is now valued at $180,000. how much of your original loan have you paid off?
This year 10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loan, the rest has been going towards interest. You see that you still have 120,730 left to pay on your loan. Your house is now valued at $180,000. how much of your original loan have you paid off?
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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This year 10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loan, the rest has been going towards interest. You see that you still have 120,730 left to pay on your loan. Your house is now valued at $180,000. how much of your original loan have you paid off?
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