Calculate the Final Monthly Payment of a $175,000 20-Year Mortgage

question 81

Short Answer

Calculate the final monthly payment of a $175,000 20-year mortgage at 5.9% compounded monthly.

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Definitions:

Misrepresented

The act of presenting facts or information in a false or misleading way.

Breach Of Contract

The violation of a contractual obligation by failing to perform one's own promise, by hindering another party's performance, or by making it impossible.

Rectification

A correction, by the court, of the wording of a mistake in a contract.

Rescission

The act of revoking, canceling, or repealing a contract or agreement, returning all parties to their original positions prior to the agreement.