Hi, can anybody help me work this out. A mortgage of 400,000 is taken out for 30 years at ta rate of 6%. (a) What's the annual repayment that's needed to clear the mortgage? (b) After 25 years how much will be left on the mortgage? Thanks in advance
What are your thoughts?Hi, can anybody help me work this out. A mortgage of 400,000 is taken out for 30 years at ta rate of 6%. (a) What's the annual repayment that's needed to clear the mortgage? (b) After 25 years how much will be left on the mortgage? Thanks in advance
Frank, did you at least look for the loan payment formula?
A frank answer please!