Business, 02.03.2020 21:15, suselygonza

2. Suppose you purchased a shore house in Ocean Beach, NJ and you took out a $200,000, 30-year loan with a 7% interest (paid annually). You have just made the payment. Given the financial situation in world markets you have now decided to pay the mortgage off by repaying the outstanding balance. What is the payoff amount if: a. There are 10 years left on the mortgage (0.5 pts) b. There are 15 years left on the mortgage (0.5 pts)

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2. Suppose you purchased a shore house in Ocean Beach, NJ and you took out a $200,000, 30-year loan...