When you purchased your house, you took out a 30-year mortgage with an interest rate of 4.8% per year. The monthly payment on the mortgage $1,500. What is the payoff amount if you have lived in the house for 19 years ? (Round to the nearest dollar.) Answer:
When you purchased your house, you took out a 30-year mortgage with an interest rate of 4.8% per year. The monthly payment on the mortgage $1,500. What is the payoff amount if you have lived in the house for 19 years ? (Round to the nearest dollar.) Answer:
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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Transcribed Image Text:When you purchased your house, you took out a 30-year mortgage with an interest rate of
4.8% per year. The monthly payment on the mortgage $1,500. What is the payoff amount
if you have lived in the house for 19 years ? (Round to the nearest dollar.)
Answer:
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