a. What is the monthly payment on a 15-year fixed-rate mortgageif the original balance is...

a. What is the monthly payment on a 15-year fixed-rate mortgage if the original balance is $235,000 and the rate is 4.9 percent?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. Consider a 20-year, $95,000 mortgage with an interest rate of 5.60 percent. After seven years, the borrower (the mortgage issuer) pays it off. How much will the lender receive?

c. A homeowner takes out a $347,000, 30-year fixed-rate mortgage at a rate of 5.55 percent. What are the monthly mortgage payments?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

Expert Solution

a)

jeff jeffy answered 2 years ago

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a. What is the monthly payment on a 15-year fixed-rate mortgageif the original balance is...

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