2
answers
0
watching
9
views
13 Nov 2019
17. (3 points) Please show all work. Six years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 25 yr, and the interest rate was 69 year compounded mortgage has now dropped to 4%/year compounded monthly, Diane is thinking of refinancing her property. What would Diane's monthly mortgage payment be if she refinances? Please round the answer to the nearest cent. (a) Calculate her current monthly payment. monthly on the unpaid balance. Because the interest rate for a conventional 25-yr home (b) Calculate her current outstanding balance (how much she still owes the bank after paying for six years).
17. (3 points) Please show all work. Six years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 25 yr, and the interest rate was 69 year compounded mortgage has now dropped to 4%/year compounded monthly, Diane is thinking of refinancing her property. What would Diane's monthly mortgage payment be if she refinances? Please round the answer to the nearest cent. (a) Calculate her current monthly payment. monthly on the unpaid balance. Because the interest rate for a conventional 25-yr home (b) Calculate her current outstanding balance (how much she still owes the bank after paying for six years).
akshaypatil83878Lv10
2 Mar 2023
Unlock all answers
Get 1 free homework help answer.
Already have an account? Log in
Jamar FerryLv2
10 May 2019
Get unlimited access
Already have an account? Log in