You took out a 30-year, $400,000.00 mortgage at 4.00% annual interest. How many months will it take to pay down the mortgage principal to $300,000.00 your monthly payment is $1,909.667
You took out a 30-year, $400,000.00 mortgage at 4.00% annual interest. How many months will it take to pay down the mortgage principal to $300,000.00 your monthly payment is $1,909.667
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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Transcribed Image Text:You took out a 30-year, $400,000.00 mortgage at 4.00% annual interest. How many months will it take to pay down the mortgage principal to $300,000.00 if your monthly payment is $1,909.667
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