Ask a New Question

12. Your current $155,000 mortgage calls for monthly payments over 25 years at an annual rate interest rate of 6 percent. If you pay an additional $50 each month beginning with the first payment, how much interest expense do you save by pre-paying?

Similar Questions

Audrey Sanborn has just arranged to purchase a $550,000 vacation home in the Bahamas with a 20 percent down payment. The
1. 1 answer
Your Company Took Out A Commercial Mortgage For $8,000,000 To Buy An Office Building. The Mortgage Has An Interest Rate Of 3%
1. 1 answer
A typical family income is $75,000 per year. Family financial experts recommend that mortgage payments not exceed 25% of the
1. 2 answers
A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the
1. 0 answers

more similar questions