Five years ago you took out a mortgage for 250000 at 55 for, Ask an Expert

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Five years ago you took out a mortgage for $250,000 at 5.5% for 30 years. You just received an inheritance of $15,000 from your uncle’s estate. If you use all of that to reduce the principal balance of your mortgage, how many more months will you need to make regular payments on your mortgage?

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Financial Management, Finance

Category:- Financial Management
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