5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest with a 30 year mortgage with a rate of 4.65%. $215,000 – $21,500 = $193,500 is what I paid with the loan Use your calculator solver to determine when half of the loan has been paid off.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest with a 30 year mortgage with a rate of 4.65%.

$215,000 – $21,500 = $193,500 is what I paid with the loan

Use your calculator solver to determine when half of the loan has been paid off. Show your numbers below

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