ou bought a house 25 years ago, taking out a $248,000.00 mortgage at a 5.3% interest rate for 30 years. Your monthly payments are $1,377.16 . A. How much will still be owed after making payments for 25 years? I will still owe $_______ after making payments for 25 years. B. If the house's value is now $358,000.00 then how much equity do you have after making payments for 25 years? I will have $______ equity after making payments for 25 years.

ou bought a house 25 years ago, taking out a $248,000.00 mortgage at a 5.3% interest rate for 30 years. Your monthly payments are $1,377.16 . A. How much will still be owed after making payments for 25 years? I will still owe $_ after making payments for 25 years. B. If the house's value is now $358,000.00 then how much equity do you have after making payments for 25 years? I will have $ equity after making payments for 25 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 14P

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