Suppose you borrowed $300,000 for a home mortgage on January 1, 2010 with an
annual inter...
Mathematics, 01.04.2020 02:15 jkurenn
Suppose you borrowed $300,000 for a home mortgage on January 1, 2010 with an
annual interest rate of 5% per year. The balance on the mortgage is amortized over
30 years with equal monthly payments at the end of each month.
A) what are the monthly payments
b) how much interest was paid during the 30 years of the mortgage
c) what is the unpaid balance on the mortgage on January 1, 2030
Answers: 3
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