You are purchasing a home for $150,000 at a 4% APR. Your loan period is 360 months. If you make payments of $1,150, how long will it take you to repay your entire loan? 130 months 197 months 202 months 156 months 171 months 2.
You are purchasing a home for $150,000 at a 4% APR. Your loan period is 360 months. If you make payments of $1,150, how long will it take you to repay your entire loan? 130 months 197 months 202 months 156 months 171 months 2.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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Question
1.
-
You are purchasing a home for $150,000 at a 4% APR. Your loan period is 360 months. If you make payments of $1,150, how long will it take you to repay your entire loan?
130 months
197 months
202 months
156 months
171 months
2.
-
You are purchasing a home for $150,000 at a 4% APR. Your loan period is 360 months. If you make payments of $1,150, how long will it take you to repay your entire loan?
130 months
197 months
202 months
156 months
171 months
-
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