So what is the loan balance at the end of 10 years of


Does anybody know how to do this question? Please show the formula, thank you very much!

Purchase price=150,000

L/V=85%

Monthly payment

Interest rate=3%

30 years term

Private mortgage insurance cost: 9%/28%

So what is the loan balance at the end of 10 years of scheduled payments?

And what is the amount of private mortgage insurance added to each payment in the first year?

Solution Preview :

Prepared by a verified Expert
Financial Management: So what is the loan balance at the end of 10 years of
Reference No:- TGS01720226

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)