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Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7...

Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After 7 years of monthly payments on $170,000 at 3% for 25 years.

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Answer #1

Given p-s 170,000 and F390-0.03per month n-25 years Interest for 25 years 170000 0.03 25*12 1,530,000 p+ Interest 170000 1530000 -$1,700,000 Amount But Paid amount for 7 years 17 0000*0.03*7*12 -428,400 Unpaid balance on the debt-1700,000-428,400 $1,271,600.00

Thank you.

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