Mathematics, 29.10.2020 01:00 lindsayb2000
PLEASE HELPPatti is just about to take out a 20-year house loan for $160,000 at an APR of 8.4%, compounded monthly. She asked the loan officer, "What will the remaining balance be on my loan after 10 years?" Help the loan officer respond to Patti's question. Part I: What will the periodic interest rate of Patti's house loan be?
Part II: How many monthly payments will Patti have made once her house loan is paid off?
Part III: What will Patti's monthly payment be?
Part IV: How many monthly payments will Patti have made after 10 years?
Part V: What will the remaining balance be on Patti's loan after 10 years?
Answers: 3
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PLEASE HELPPatti is just about to take out a 20-year house loan for $160,000 at an APR of 8.4%, comp...
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