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August 21, 2014

Homework Help: Math 104

Posted by Debra on Saturday, November 12, 2011 at 10:04pm.

Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following information.

•Escrow payment: $232.78
•Principle and Interest payment: $751.90
•Total payment: $984.68
•Current Loan balance: $121,259.44

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