Paige refinanced her home loan. The new loan of $85,000.00 has an interest rate of 3.7% compounded monthly. She is planning to pay off the loan in 19 years, what will her monthly payment be? (Round all answers to 2 decimal places.) The monthly payment would be $. Assuming Paige paid all of the payments on time and did not prepay on the loan. What is the total amount Paige paid and the total interest? The total amount Paige paid was $ and the total interest was
Paige refinanced her home loan. The new loan of $85,000.00 has an interest rate of 3.7% compounded monthly. She is planning to pay off the loan in 19 years, what will her monthly payment be? (Round all answers to 2 decimal places.) The monthly payment would be $. Assuming Paige paid all of the payments on time and did not prepay on the loan. What is the total amount Paige paid and the total interest? The total amount Paige paid was $ and the total interest was
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Paige refinanced her home loan. The new loan of $85,000.00 has an interest rate of 3.7% compounded monthly. She is planning to pay off the loan in 19 years, what will her monthly payment be? (Round all answers to 2 decimal places.)
The monthly payment would be $.
Assuming Paige paid all of the payments on time and did not prepay on the loan.
What is the total amount Paige paid and the total interest?
The total amount Paige paid was $ and the total interest was
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