Posted by **tommy** on Sunday, April 1, 2012 at 8:29pm.

Hey guys! really need help with this one!!!

On December 31, 1995, a house is purchased with the buyer taking out a 30-year $90,000 mortgage at 9% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate:

(A) the unpaid balance of the loan on December 31,2005, just after the 120th payment.

(B) the interest that will be paid during January 2006.

Thanks in advance!

## Answer this Question

## Related Questions

- math - A lender gives you a choice between the following two 30-year mortgages ...
- College Algebra and Finance - Please help! Just need the answer... A lender ...
- Economics - Calculate the total dollar amount paid for a house purchased for $...
- Math - Pey Soon has taken out a 20-year, $150,000 mortgage with monthly ...
- Finance - Say that you purchase a house for $270,000 by getting a mortgage for $...
- Finance - A mortgage broker is offering a $225,000 30-year mortgage with a ...
- Math - Sarah secured a bank loan of $200,000 for the purchase of a house. The ...
- Math Refinancing Question - A person purchased a $205,107 home 10 years ago by ...
- accounting - House mortgage You have just purchased a house and have obtained a...
- accounting - 3. On December 1, year 1, Newton Corporation incurs a 15-year $300,...

More Related Questions