k borrows $318,449.00 to buy a house. He has a 30-yearmonthly payment mortgage with a rate of 5.70% p.a. Assuming he makes all the required monthly payments on time, what is the remaining balance on Derek's loan immediately after he makes the 99th payment? 1) $297,424.72 2) $276,149.51 3 ) None of the answers in this list is within $ 1.00 of the correct answer . 4 ) $289,563
k borrows $318,449.00 to buy a house. He has a 30-yearmonthly payment mortgage with a rate of 5.70% p.a. Assuming he makes all the required monthly payments on time, what is the remaining balance on Derek's loan immediately after he makes the 99th payment? 1) $297,424.72 2) $276,149.51 3 ) None of the answers in this list is within $ 1.00 of the correct answer . 4 ) $289,563
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 23PROB
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Derek borrows $318,449.00 to buy a house. He has a 30-yearmonthly payment mortgage with a rate of 5.70% p.a. Assuming he makes all the required monthly payments on time, what is the remaining balance on Derek's loan immediately after he makes the 99th payment? 1) $297,424.72 2) $276,149.51 3 ) None of the answers in this list is within $ 1.00 of the correct answer . 4 ) $289,563.23 5 ) $ 269,665.60 6 ) $ 281,983.11
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Publisher:
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