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Laura Murphy is buying a new home for $193,000. She makes a $40,000 down payment and finances the balance with a 7.5% 30-year conventional loan. The factor for repayment is $7.00 per thousand. After making the first payment, what is the remaining balance on Laura's loan?

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Laura Murphy is buying a new home for $193,000. She makes a $40,000 down payment and finances the balance with a 7.5% 30-year conventional loan. The factor for repayment is $7.00 per thousand. After making the first payment, what is the remaining balance on Laura's loan?






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