House loan. suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. if you make payments of $1000/month, after how many months will the loan balance be zero?

It will be after 462 months

Explanation:

We use the annuity formula for present value

We post our know values and start solving for time:

First we clear the dividend:

Then we clear for the power

We set up the formula using logarithmic

And use logarithmic properties to solve for time:

time 462 months

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

wheres the chart? so i can answer.