Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. james has borrowed $230,000 to purchase a house wi

James has borrowed $230,000 to purchase a house with a twenty-year mortgage with an APR...

70.2K

Verified Solution

Question

Finance

James has borrowed $230,000 to purchase a house with a twenty-year mortgage with an APR of 4.00%. If he pays $1480.00 each month, how many months will it take him to reduce the balance to $84,000?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

how much 5.80 M NaOH must be added to 460.0 mL of a buffer that is...

Biology
1.2K views

MULTIPLE CHOICE: provide an explanation too please Lipids that are liquid at room temperature likely: (a)...

Mechanical Engineering
1.2K views

Air at 60oC and 1 atm enters a smooth tube having a diameter of 2 cm...

Physics
1.2K views

In the propagation of electromagnetic waves the angle between the direction of propagation and plane...

Physics
1.2K views

An 88 kg fullback moving east with a speed of 5.0 m/s is tackled by...

Geometry
1.2K views

30 60 90 Triangle Hypotenuse 11 Short leg Long leg triangle 1 triangle 2 Complete...

Calculus
1.2K views

1 point Suppose R is the shaded region in the figure As an iterated integral...

Calculus
1.2K views

Find the radius of convergence for X 3x n 1 n

Calculus
1.2K views

Rule Salad Attempt 1 tion 4 0 5 points Listen company has set up a...

Calculus
1.2K views

The demand equation for a certain product is given by P 130 0 06x where...

Accounting
1.2K views

Needham Company uses a job order cost system. During the month of September, the company...

Finance
1.2K views

Beckman Engineering and Associates (BEA) is considering a change in its capital structure. BEA currently...