Question
A fully amortizing mortgage loan is made for $100,000 for 15 years. The interest rate is 6 percent per year compounding monthly. Payments are to
A fully amortizing mortgage loan is made for $100,000 for 15 years. The interest rate is 6 percent per year compounding monthly. Payments are to be made monthly. What is the loan outstanding after one monthly payment? (Round to a dollar)
Question 4 options:
|
| $89,380 |
|
| $89,691 |
|
| $89,692 |
|
| $99,656 |
|
| $79,725 |
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Your Financial Well Being How To Get Your Financial Well Being With Smart Spending Habits
Authors: Fransisca Patten
1st Edition
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