Answered

Explore Westonci.ca, the top Q&A platform where your questions are answered by professionals and enthusiasts alike. Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

the turners have purchased a house for $150,000. they made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 9% per year on the unpaid balance. what monthly payments will the turners be required to make?

Sagot :

Tundexi

The monthly payment required to be made is Amortization

Here, we need to calculate the monthly payments that turners must make as a result of the purchase of house with mortgage agreement

Given information are

  • Purchased value = $150,000
  • Initial down payment = $30,000
  • Mortgage interest charged at 9% per year on the unpaid balance.

In conclusion, the monthly payments which is required of turners to make is  an amortization because invovles the process of paying off s debt through scheduled installments using component of the principal & interest for calculation.

Learn more about how Amortization here

brainly.com/question/7203729

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.