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Find the unpaid balance debt
After 6 Years of monthly payments on 140,000 at 5% for 25 years. Completely stuck on this
problem please help
Solution
Unpaid debt is $ 120,012
[1-(1+r)-n ]/r
[1-(1+.0042)-300 ]/.0042Cumulative discount factor for 25 years=
[1-(1+r)-n ]/rr=05-Dec=
[1-(1+.0042)-300 ]/.0042=0.0042=170.38Periods=25*12=300

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Find the unpaid balance debt After 6 Years of monthly payments on .pdf

  • 1. Find the unpaid balance debt After 6 Years of monthly payments on 140,000 at 5% for 25 years. Completely stuck on this problem please help Solution Unpaid debt is $ 120,012 [1-(1+r)-n ]/r [1-(1+.0042)-300 ]/.0042Cumulative discount factor for 25 years= [1-(1+r)-n ]/rr=05-Dec= [1-(1+.0042)-300 ]/.0042=0.0042=170.38Periods=25*12=300