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FinanceQ&A LibrarySuppose you make monthly mortgage payments of $1,345 and have 11 years left on the mortgage (next payment due next month). Assuming a 4.5% stated annual interest rate for the mortgage, how much would you need today to pay off the mortgage? I know payment is 1,345, number of periods remaining is 132 (11x12) and the interest rate monthly is .375 (4.5/12).Start your trial now! First week only $4.99!*arrow_forward*

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Suppose you make monthly mortgage payments of $1,345 and have 11 years left on the mortgage (next payment due next month). Assuming a 4.5% stated annual interest rate for the mortgage, how much would you need today to pay off the mortgage?

I know payment is 1,345, number of periods remaining is 132 (11x12) and the interest rate monthly is .375 (4.5/12).

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