Xenia takes out a $450,000.00 mortgage with a term of 3 years and an amortization...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Xenia takes out a $450,000.00 mortgage with a term of 3 years and an amortization period of 20 years. The interest rate on the mortgage is 2.000% compounded monthly and she will make monthly payments. How much does she still owe when the term is over? show your work
a.
$342,269.66.
b.
$365,874.47.
c.
$346,203.80.
d.
$393,413.41.
e.
$354,072.06.
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.