A homeowner takes a 20-year fixed-rate mortgage for 100000, Financial Management

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A homeowner takes a 20-year fixed-rate mortgage for 100000

A homeowner takes a 20-year fixed-rate mortgage for $100,000 at 7.2 percent. After nine years, the homeowner sells the house and pays off the remaining principal. How much is the principal payment? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Principal payment $

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Financial Management: A homeowner takes a 20-year fixed-rate mortgage for 100000

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Financial Management: A homeowner takes a 20-year fixed-rate mortgage for 100000

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