You have a mortgage balance of $117,000 that will require you to make 120 more payments of $1,200 , starting next month. alternatively, you can take out a loan today for $117,000 with an interest rate of 3% apr compounded monthly and pay off the original mortgage. the new loan will require you to make 120 more payments, starting next month. if your investments earn 2.00% apr, compounded monthly, how much will you save in pv terms by taking out the new loan to pay off the original mortgage?
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You have a mortgage balance of $117,000 that will require you to make 120 more payments of $1,200 ,...
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