Ask your own question, for FREE!
Mathematics 15 Online
OpenStudy (anonymous):

A person purchased a $208,243 home 10 years ago by paying 15% down and signing a 30-year mortgage at 9.9% compounded monthly. The monthly payments on this loan were $1,540.29. Interest rates have dropped and the owner wants to refinance the unpaid balance. What is the unpaid balance on the loan? Round to the nearest cent as needed.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!