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Mortgage loan with an apr

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You take out a 30-year $300,000 mortgage loan with an APR of 8 percent and monthly payments. What are the monthly payments? In 16 years you decide to sell your house and payoff the mortgage. What will the principal balance on the loan be? What will your total payment over the 16 years be? How much principal will you have paid? How much interest will you have paid? Make sure to show your work

Reference no: EM131193064

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Mortgage loan with an apr : You take out a 30-year $300,000 mortgage loan with an APR of 8 percent and monthly payments. What are the monthly payments? In 16 years you decide to sell your house and payoff the mortgage. What will the principal balance on the loan be?
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