question archive Armita buys a house for $1,068,697
Subject:AccountingPrice: Bought3
Armita buys a house for $1,068,697.20 with a down payment of $178,116.20 and a mortgage for the balance. The mortgage is for 3 years, and the amortization period is 15 years. Armita will make weekly payments and the mortgage rate is r2) = 5.250%. a) How much are the weekly payments? $ b) What is the outstanding balance at the end of the term of the mortgage? $ C) How much does Armita still owe on the mortgage if she sells the house after 1 years? $