$200,000 mortgage is amortized over 25 years with monthly payments at an interest rate of 6% compounded semi-annually. Suppose you made a single lump sum payment of $6000 at the end of the second year of the mortgage. ). How long would it now take to pay off the mortgage (calculate the number of years)? How much interest is paid over the life of the mortgage
$200,000 mortgage is amortized over 25 years with monthly payments at an interest rate of 6% compounded semi-annually. Suppose you made a single lump sum payment of $6000 at the end of the second year of the mortgage. ). How long would it now take to pay off the mortgage (calculate the number of years)? How much interest is paid over the life of the mortgage
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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$200,000 mortgage is amortized over 25 years with monthly payments at an interest
rate of 6% compounded semi-annually. Suppose you made a single lump sum payment of $6000
at the end of the second year of the mortgage. ). How long would it now take to pay off the
mortgage (calculate the number of years)? How much interest is paid over the life of the mortgage
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