years ago you took out a $350,000, 25-year mortgage with an annual interest rate of 77...
years ago you took out a $350,000, 25-year mortgage with an annual interest rate of 77 percent and monthly payments of $2,473.732. What is the outstanding balance on your current loan if you just make the 108th payment?
Homework Answers
Calculating Value of Loan after108 payment,
Using TVM Calculation,
FV = [PV = 350,000, PMT = -2,473.732, N = 108, I = 0.077/12]
FV = $314,650.84
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years ago you took out a $350,000, 25-year mortgage with an
annual interest rate of 77...
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