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Home Q & A Board Science-Related Homework Help Mathematics
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gewusel gewusel
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6 years ago
John makes a monthly mortgage payment of $1940 at the end of every month. On October 31, his loan balance was $145 000 after making a payment of $1940. His financial institute allows him to make one additional payment equal to or less than his monthly payment, once a month. Taking advantage of that, John made a payment of $1500 on November 15 and $1900 on December 20. What is his year-end balance after making monthly payment on December 31? The effective monthly fixed rate is 0.306%.
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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AxyAxy
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gewusel Author
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6 years ago
Thanks for your help!!
sweetalia
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
dedricgard
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2 hours ago
Correct Slight Smile TY
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