Explore BrainMass

Explore BrainMass

    What is the principle balance on the amortized loan?

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

    © BrainMass Inc. brainmass.com March 4, 2021, 7:59 pm ad1c9bdddf
    https://brainmass.com/business/finance/what-is-the-principle-balance-on-the-amortized-loan-136209

    Solution Summary

    The solution explains how the calculate the principal balance after some payments have been made on a amortizing loan in an attached Excel file.

    $2.49

    ADVERTISEMENT