Question
Consider a 30-year mortgage at an interest rate of 8% compounded monthly. The amount to be mortgaged is $130,000. After the first month's payment, what
Consider a 30-year mortgage at an interest rate of 8% compounded monthly. The amount to be mortgaged is $130,000. After the first month's payment, what is the new outstanding principal?
a. $129,912.77 b. $129,782.21 c. $129,430.46 d. $129,058.81
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Modern Equity Investing Strategies
Authors: Anatoly B Schmidt
1st Edition
9811239495, 978-9811239496
