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Find the unpaid balance on the debt

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Reference no: EM131198467

Question 1

Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After 5 years of monthly payments on $160,000 at 5% for 25 years. the correct Answer on the quiz was $141727.69 What is the formula to get this answer?

Please answer Question 2

Question 2

Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After 7 years of monthly payments on $160,000 at 4% for 25 years.

Reference no: EM131198467

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