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#1 2011-06-16 14:21:19
- reallylongnickname
- Member
- Registered: 2011-03-30
- Posts: 50
Financial Q.
A $99,000 mortgage is to be repaid in regular monthly payments of $749.27 over 25 years. The interest rate is 7.9%/a compounded semi-annually which means that the equivalent monthly rate is 0.006477527
Q. How much is still owing on this mortgage after the first 4 years?
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#2 2011-06-16 16:19:11
- bobbym
- bumpkin
- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 109,606
Re: Financial Q.
Hi;
In mathematics, you don't understand things. You just get used to them.
If it ain't broke, fix it until it is.
Always satisfy the Prime Directive of getting the right answer above all else.
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