Carlos purchased a house for$230,000; he paid$11500 as a down payment and financed the balance amount at3.9% compounded monthly for25years. the monthly payment is 1141.293.
a) What was the amount of interest charged for the entire loan?
b) If Carlos pays an additional $100 per month, how many periods will it take to pay off the load?
c) If Carlos pays an additional $100 per month, how much interest will be saved?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here