Course Answers

BUSINESS
COMPUTER SCIENCE
OTHER COURSES
My Profile

Solved: Question 19 5 Pts Consider A 30-year, $115,000 Fixed-rate Mortgage With A Nominal Annual Rate Of 4.85 Percent. All Payments Are Made At The End Of Each Month. What Is The Remaining Balance On

By |

Question 19 5 pts Consider a 30-year, $115,000 fixed-rate mortgage with a nominal annual rate of 4.85 percent. All payments a


Question 19 5 pts Consider a 30-year, $115,000 fixed-rate mortgage with a nominal annual rate of 4.85 percent. All payments are made at the end of each month. What is the remaining balance on the mortgage after 5 years? Your answer should be between 98,478 and 112,670, rounded to 2 decimal places, with no special characters. e

Answer Preview

Calculation of monthly payment: Amount borrowed = $115,000 Annual interest rate = 4.85% Monthly interest rate = 0.404167% Period = 30 years or 3

Get Answer Now


Buy (USD $9.00)

Get Answer Now

Answered
Buy @ USD $9.00
Related Questions

OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES
OTHER COURSES