You have just sold your house for $1,100,000 in cash. Your mortgage was originally a​ 30-year mortgage with monthly payments and an initial balance of $750,000. The mortgage is currently exactly​ 18½ years​ old, and you have just made a payment. If the interest rate on the mortgage is 5.25% ​(APR), how much cash will you have from the sale once you pay off the​ mortgage? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) Cash that remains after payoff of mortgage is $_____(Round to the nearest​ dollar.)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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You have just sold your house for $1,100,000 in cash. Your mortgage was originally a​ 30-year mortgage with monthly payments and an initial balance of $750,000. The mortgage is currently exactly​ 18½ years​ old, and you have just made a payment. If the interest rate on the mortgage is 5.25% ​(APR), how much cash will you have from the sale once you pay off the​ mortgage? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)

Cash that remains after payoff of mortgage is $_____(Round to the nearest​ dollar.)
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