A mortgage of $200,000 is amortized over 25 years using level payments at the end of...
A mortgage of $200,000 is amortized over 25 years using level payments at the end of each month with the nominal annual rate of 0.12 compounded monthly. The borrower missed the 280th, 281stand 282ndpayments, and he wants to pay off the whole mortgage on the 283rdpayment, how much does he have to pay?
Select one:
a. 41334.10cross out
b. 39216.18cross out
c. 41855.44cross out
d. 37090.70cross out
e. None of these answers
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A mortgage of $200,000 is amortized over 25 years using level
payments at the end of...
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