Monday, 30 September 2019

You have just sold your house for $ 1,100, 000 in cash. Your mortgage was originally a​ 30-year mortgage

You have just sold your house for $ 1,100, 000 in cash. Your mortgage was originally a​ 30-year mortgage with monthly payments and an initial balance of $ 800,000. The mortgage is currently exactly​ 18½ years​ old, and you have just made a payment. If the interest rate on the mortgage is 7.75 % ​(APR), how much cash will you have from the sale once you pay off the​ mortgage? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)
Cash that remains after payoff of mortgage is ​[...]? Round to the nearest dollar.

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