Question

Question 5 10 pts An Investor borrows $100.000 at 6% (30-year FRM). Exactly 5 years later, she pays down the principal amount by $15,000. Approdimately how long will it now take to fully amortize (pay off) the mortgage? 218 months or about 18 years 196 months or about 16 years 186 months or about 15 years 211 months or about 17 years 236 months or about 19 years time remaining idle timer

Answer 1

в $ 599.55 =PMT(6%/12,30*12,-100000,0) L A A 1 Monthly payment 2 3 4 Loan due in 5 years 5 Loan due in 5 years PV*(1+r)^n-P*((1+r)^n-1)/ 93,054 =(100000*(1+6%/12)^60)-PMT(6%/12,30*12,-100000,0)*((1+(6%/12))^60-1)/(6%/12) 8 Number of months 211 =NPER(6%/12,-B1,B5-15000,0,0) 11 Hence, correct option is "211 months or about 17 1/2 years"

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