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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1. 

  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. 

    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

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ISBN:
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Cengage Learning