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Lucy has a mortgage of 100 000$ that she repays over 10 years with payments at...

Lucy has a mortgage of 100 000$ that she repays over 10 years with payments at the end of each month at a nominal rate of 6% convertible monthly. After 5 years, she repays an amount of principal that reduces her monthly payments to 1000$ from the 6th year on. What amount did she pay back at time 10 on top of her normal monthly payment?

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Answer #1

Note in the question uploaded there is a gap 100 000  

So I have calculated for 100 thousand dollars pls check this figure is correct .

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