Cash that remains after payoff of mortgage

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Reference no: EM131579216

You have just sold your house for $1, 100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $700,000. The mortgage is currently exactly 18 1/2 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?

Cash that remains after payoff of mortgage is (Round to the nearest dollar.)

Reference no: EM131579216

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