You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what is your loan balance after 10 years? $104,658 $131,586 $135,386 $121,543 2. You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what will your equity be after 10 years? $18,414 $28,627 $14,538 $34,579
You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what is your loan balance after 10 years? $104,658 $131,586 $135,386 $121,543 2. You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what will your equity be after 10 years? $18,414 $28,627 $14,538 $34,579
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Question
1. You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what is your loan balance after 10 years?
$104,658 |
||
$131,586 |
||
$135,386 |
||
$121,543 |
2. You are purchasing a home for $150,000 at an 8% APR. Your loan period is 360 months. If your payment is $1,100.65, what will your equity be after 10 years?
$18,414 |
||
$28,627 |
||
$14,538 |
||
$34,579 |
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