Mortgage problem.. you get a ,000 loan and pay it back at a rate of 0.34 per month with an interest rate of 12% a year(1% a month). Your balance, B dollars, after n monthly payments is given by the algebraic equation
B= 50,000(1.01^n)+(550.34/.01)(1-1.01^n)
Make a table of your balance at the end of each 12 months for the first 10 years of the mortgage. To save time, use the table feature on your graphing calculator to do this.
So.. yeah. What do?
I neeeeed Precalc help! Can you help?
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see table at
http://www.easysurf.cc/amt8n.htm?price=50000&monthPay=550.34&interest=12&time=10&month=120