November 28, 2015

Homework Help: MATH

Posted by TRAY on Sunday, August 12, 2012 at 2:26pm.

Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information:

Escrow payment


Principle and Interest payment


Total Payment


Current Loan Balance


Explain whether or not it would be reasonable to do this is if you currently meet your monthly expenses with less than $100 left over.

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