Laura and Martin obtain a 30 year, 130,000 conventional mortgage at 10.0% on a house selling for $170,000. Their monthly mortgage payment, including principal and interest is 1131.00. Determine the total amount they will pay for their house.
Laura and Martin obtain a 30 year, 130,000 conventional mortgage at 10.0% on a house selling for $170,000. Their monthly mortgage payment, including principal and interest is 1131.00. Determine the total amount they will pay for their house.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 24PROB
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Laura and Martin obtain a 30 year, 130,000 conventional mortgage at 10.0% on a house selling for $170,000. Their monthly mortgage payment, including principal and interest is 1131.00. Determine the total amount they will pay for their house.
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