You want to take out a $304,000 mortgage (home loan). The interest rate on the loan is 4%, and the loan is for 30 years. Your monthly payments are $1,451.34. How much will still be owed after making payments for 15 years? Round your answer to the nearest dollar.
You want to take out a $304,000 mortgage (home loan). The interest rate on the loan is 4%, and the loan is for 30 years. Your monthly payments are $1,451.34. How much will still be owed after making payments for 15 years? Round your answer to the nearest dollar.
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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