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You just bought a house and have a $150,000 mortgage. After 36 payments (3 years) what will be the remaining balance on your mortgage?

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You just bought a house and have a $150,000 mortgage. The mortgage is for 30 years and has a nominal rate of 8 percent (compounded monthly). After 36 payments (3 years) what will be the remaining balance on your mortgage?

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Manal Elkhoshkhany, MBA
Education
  • BA, Ain Shams University, Cairo Egypt
  • MBA, California State University, Sacramento
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