Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. What is the loan amount (present val

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Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. What is the loan amount (present value)?

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    2021-10-14T02:25:14+00:00

    Total = 1200 ( 1+ \frac{0.08}{12} )^{30} = $1464.71

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