When paying off a home mortgage, extra principle payments can have a dramatic impact on the time needed to pay off the mortgage. A. create an amortization schedule for a $200,000, thirty-year mortgage, with a 6% APR. B. After the fifth year, add an extra $100 to each monthly payment. When is the loan payed off?
When paying off a home mortgage, extra principle payments can have a dramatic impact on the time needed to pay off the mortgage. A. create an amortization schedule for a $200,000, thirty-year mortgage, with a 6% APR. B. After the fifth year, add an extra $100 to each monthly payment. When is the loan payed 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
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When paying off a home mortgage, extra principle payments can have a dramatic impact on the time needed to pay off the mortgage.
A. create an amortization schedule for a $200,000, thirty-year mortgage, with a 6% APR.
B. After the fifth year, add an extra $100 to each monthly payment. When is the loan payed off?
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