Question

You want to take out a $247,000 mortgage (home loan). The interest rate on the loan is 6%, and the loan is for 30 years. Your monthly payments are $1,480.89. How much will still be owed after making payments for 15 years? $ How much will still be owed after making payments for 20 years? $ How much will still be owed after making payments for 25 years?

Name: you want to take out a 247000 mortgage home loan the interest rate on the loan is 6 and the loan is for 30 years your monthly payments are 148089 how much will still be owed after making pay 00067
Uploaded: 2023-08-19T00:08:27-08:00
Duration: 3 min 13 s
Channel: Danielle Fairburn
Description: you want to take out a 247000 mortgage home loan the interest rate on the loan is 6 and the loan is for 30 years your monthly payments are 148089 how much will still be owed after making pay 00067

          You want to take out a $247,000 mortgage (home loan). The interest rate on the loan is 6%, and the loan is for 30 years. Your monthly payments are $1,480.89.
How much will still be owed after making payments for 15 years? $
How much will still be owed after making payments for 20 years? $
How much will still be owed after making payments for 25 years?

Added by Garrett S.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Danielle Fairburn

08/19/2023

Step 1

Let's think step by step. Show more…

Show all steps

Thanks for your feedback!

You want to take out a $247,000 mortgage (home loan). The interest rate on the loan is 6%, and the loan is for 30 years. Your monthly payments are $1,480.89. How much will still be owed after making payments for 15 years? $ How much will still be owed after making payments for 20 years? $ How much will still be owed after making payments for 25 years?