Problem
A 30-year mortgage for $140,000 is issued at a 9% nominal interest rate. What is the monthly payment? How long does it take to pay off the mortgage if $1500 per month is paid? If $2000 per month is paid? If double payments are made?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.