SOLUTION: Fifteen years ago a couple purchased a house for $150,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 4.86% compounded monthly.Fi

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Question 1201416: Fifteen years ago a couple purchased a house for $150,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 4.86% compounded monthly.Find the balance of the loan after 16 years and after 17 years?Find the total amount of interest paid by the couple during the 17th year.
Answer by ikleyn(52754) About Me  (Show Source):
You can put this solution on YOUR website!
.

Find standard formulas for it in any textbook in finance.

Why do you neglect such simple way to increase the level of your knowledge ?

It would seem that this is the first step you should do when studying this subject, isn't it ?