A loan for a house has a 5% annual interest rate. If you borrow $600,000 for 30 years, then what is the balance of the loan including the si

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A loan for a house has a 5% annual interest rate. If you borrow $600,000 for 30 years, then what is the balance of the loan including the simple interest?

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Thu Hương 5 months 2021-08-29T12:16:25+00:00 1 Answers 1 views 0

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  1. bonexptip
    0
    2021-08-29T12:17:30+00:00
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    Answer:

    the balance is how much you still owe on the loan.

    the initial balance would be the $600,000. that would change monthly

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