Find the unpaid balance on the debt after 5 years of monthly payments on $190,000 at 3% for 25 years

$114,000

Step-by-step explanation:

Use formula

where

I = interst

P = principal

r = rate

t = time

First, find the interst for 25 years:

I = unknown

P = $190,000

r = 0.03 (3% as decimal)

t = 25

Now find the interest for 5 years:

I = unknown

P = $190,000

r = 0.03 (3% as decimal)

t = 5

The unpaid balance is