You are buying a 162000 house with a 20 down payment and a, Ask an Expert

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You are buying a $162,000 house with a 20% down payment and a fixed-rate mortgage for the remainder at 8.75% for 30 years with monthly payments.

What is the balance or amount outstanding on the loan at the end of the fourth year?

How much total interest is due over the full term of the loan?

(Show BA11 Plus calculator solution as well as without calculator solution)

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Financial Management, Finance

Category:- Financial Management
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