Business, 01.03.2021 22:20 samafeggins2
You just took up a 30-year mortgage loan of $330,000 to buy your dream home, at a mortgage rate of 3.50 percent. You immediately decided that you will pay an additional amount of $620 (you prefer this to a 15-year mortgage because of its flexibility) every month to pay off the loan earlier. If you are able to do this each month, by how many years will you shorten the length of time it will take to pay off your loan?
a. 10.83 years
b. 19.31 years
c. 14.07 years
d. 8.31 years
e. 12.48 years
Answers: 3
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Adecision is made at the margin when each alternative considers
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Harveys corporation borrowed $60,000 from the bank on november 1, 2014. the note had a 6 percent annual rate of interest and matured on april 30, 2015. interest and principal were paid in cash on the maturity date. required a. what amount of interest expense was paid in cash in 2014?
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You just took up a 30-year mortgage loan of $330,000 to buy your dream home, at a mortgage rate of 3...
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