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11 Dec 2019
Jerry bought a house for $400,000 and made an $80,000 down payment. The rest of the cost was paid with a 30-year loan. Payments were paid monthly. The nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the loan balance.
A- What was his monthly loan payment?
B- What was the loan payoff amount?
Jerry bought a house for $400,000 and made an $80,000 down payment. The rest of the cost was paid with a 30-year loan. Payments were paid monthly. The nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the loan balance.
A- What was his monthly loan payment?
B- What was the loan payoff amount?
Divya SinghLv10
29 Sep 2020