You have just sold your house for $1,100,000 in cash. Your mortgage was originally a​ 30-year mortgage with monthly payments and an initial balance of $750,000. The mortgage is currently exactly​ 18½ years​ old, and you have just made a payment. If the interest rate on the mortgage is 5.25% ​(APR), how much cash will you have from the sale once you pay off the​ mortgage? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) Cash that remains after payoff of mortgage is $_____(Round to the nearest​ dollar.)

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A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

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A:

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A:

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A: Simple interest =( principal × rate × time)/100

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A: Given problem is :   Desiree opens an account with one deposit of $6500. She receives a statement…

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A:

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A: Given : $17,500 is borrowed for 4 years at 7.5 % of simple interest.   To find : Monthly payments.

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A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

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A:

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A: We have to find the interest of given amount. The solution is following.