SOLUTION: Richard Miyashiro purchased a condominium and obtained a 30-year loan of $191,000 at an annual interest rate of 8.35%. (Round your answers to the nearest cent.)
(a) What is the mo
Algebra.Com
Question 1146767: Richard Miyashiro purchased a condominium and obtained a 30-year loan of $191,000 at an annual interest rate of 8.35%. (Round your answers to the nearest cent.)
(a) What is the mortgage payment?
(b) What is the total of the payments over the life of the loan?
(c) Find the amount of interest paid on the mortgage loan over the 30 years.
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
Richard Miyashiro purchased a condominium and obtained a 30-year loan of $191,000 at an annual interest rate of 8.35%. (Round your answers to the nearest cent.)
(a) What is the mortgage payment?
(b) What is the total of the payments over the life of the loan?
(c) Find the amount of interest paid on the mortgage loan over the 30 years.
Why all the space? I removed it!
RELATED QUESTIONS
Richard Miyashiro purchased a condominium and obtained a 30-year loan of $191,000 at an... (answered by richwmiller)
Richard Miyashiro purchased a condominium and obtained a 30-year loan of $191,000 at an... (answered by Boreal)
Richard Miyashiro purchased a condominium and obtained a 25-year loan of $195,000 at an... (answered by Theo)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
Michael Sanchez purchased a condominium for $73,000. He made a 20% down payment and... (answered by Theo)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by Theo)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)