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stranahan stranahan
wrote...
Posts: 3324
7 years ago
You just bought a home for $250,000 and are scheduled to make monthly payments of $1,834.41 for 30 years at 8% APR. Suppose you add $400 each month to the $1,834.41 house payment, making your monthly payment $2,234.41. This extra amount is applied to the principal. How long will it take you to pay off your loan of $250,000? Use a calculator to determine your answer.
A) It will take about 206 months.
B) It will take about 216 months.
C) It will take about 16.5 years.
D) It will take about 15.5 years.
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
Read 465 times
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blightermournblightermourn
wrote...
Posts: 263
7 years ago
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stranahan Author
wrote...
7 years ago
Thanks Smiling Face with Open Mouth and Tightly-closed Eyes
mm3
wrote...
5 years ago
thanx
wrote...
3 years ago
Thank you!
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