Present value = 135000
Monthly interest, i = 0.06/12 = 0.005
Monthly payment, A= 869.81
Future value of loan after 16 years

[compound interest formula]


Future value of payments after 16 years



Balance = future value of loan - future value of payments
=351736.652-279288.456
= $ 72448.20
Note: the exact monthly payment for a 25-year mortgage is



Repeating the previous calculation with this "exact" monthly payment gives
Balance = 72448.197, very close to one of the choices.
So we conclude that the exact value obtained above differs from the answer choices is due to the precision (or lack of it) of the provided data.
The closest choice is therefore <span>$72,449.19</span>
No because 62122 can not be simplified
Answer: Click on the cell where you want the result of the calculation to appear. Type = (press the equals key to start writing your formula) Click on the first cell to be added (B2 in this example) Type + (that's the plus sign)
Step-by-step explanation:
C 1:3 it you multiply both numbers by 2 you will have 2:6. 1:3 is just simplified
Your answer is 45.. I am 100% positive