The relationship between the balance B (in dollars) left on a mortgage loan and N, the number of monthly payments, is given byB=298,800-830N. What is the balance on the mortgage after 10 years?$Enter your answer; What is the balance on the mortgage after 10 years? 20 years?$Enter your answer; What is the balance on the mortgage after 20 years? 30 years?

Question
Asked Sep 9, 2019
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The relationship between the balance B (in dollars) left on a mortgage loan and N, the number of monthly payments, is given by

B=298,800-830N.

 

What is the balance on the mortgage after 10 years?

$Enter your answer; What is the balance on the mortgage after 10 years?

 

20 years?

$Enter your answer; What is the balance on the mortgage after 20 years?

 

30 years?

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Expert Answer

Step 1

To determine the values of the balance after the given number of years , using the given formula

Step 2

We must bear in mind that the Number N is the number of...

Given
Balance(N)298,800-830N
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Given Balance(N)298,800-830N

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