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Nancy Brock is buying her first home. It costs $85,000, and she will make a down...

Nancy Brock is buying her first home. It costs $85,000, and she will make a down payment of $15,000. She is planning on a 30-year loan at 8% interest.

a. What is the exact monthly payment she will pay to the mortgage company?

b. If Nancy is transferred to a new job in another city after owning the home for six years, what is the balance due the loan company when she sells the house?

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used. If you need with formula, let me know, will do that also. Thank you.

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