You have just sold your house for $1,000,000 in cash. Your mortgage was originally a? 30-year mortgage with monthly payments and an initial balance of $750,000.
The mortgage is currently exactly 18½ years old, and you have just made a payment. If the interest rate on the mortgage is 6.25 % (APR), how much cash will you have from the sale once you pay off the mortgage?
(Note: Be careful not to round any intermediate steps less than six decimal? places.)
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $750,000.
The mortgage is currently exactly 18 years old, and you have just made a payment.
If the interest rate on the mortgage is 6.25% APR), how much cash will you have from the sale once you pay off the mortgage?
(Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is Round to the nearest dollar.