A conventional fixed-rate 6.5% mortgage has an original maturity of 30 years, required monthly mortgage payments of $632

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

A conventional fixed-rate 6.5% mortgage has an original maturity of 30 years, required monthly mortgage payments of $632

Post by answerhappygod »

A conventional fixed-rate 6.5% mortgage has an original maturity
of 30 years, required monthly mortgage payments of $632.07, and an
initial balance of $100,000. The loan will be paid off in ___
months if the borrower pays $100 in addition to the required
payment each month. If your answer includes a decimal, round up to
the next month.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”