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Home Q & A Board Science-Related Homework Help Mathematics
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mombefor78 mombefor78
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11 months ago
A $200,000 mortgage at 6.6% compounded semiannually with a 30-year amortization requires monthly payments. The mortgage allows the borrower to prepay up to 10% of the original principal once each year. How much will the amortization period be shortened if, on the first anniversary of the mortgage, the borrower makes (in addition to the regular payment) a prepayment of:


a) $10,000?
b) $20,000?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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richardbuggrichardbugg
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11 months ago
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mombefor78 Author
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11 months ago
Thanks for your help!!
Katey_maree
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Yesterday
Thanks
Liarec
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2 hours ago
Brilliant ツ
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