Question
On August 1 2008, you take out a mortgage in the amount of $357,000 from Bank of America. Bank of America is charging you an
On August 1 2008, you take out a mortgage in the amount of $357,000 from Bank of America. Bank of America is charging you an APR of 8.5%. You are to repay this loan over a period of 30 years. The Bank expects you to make monthly payments at the end of each month. What is the principal amount repaid during 2008?
| A. | $1,401.21 | |
| B. | $1,557.45
| |
| C. | $1,227.32
| |
| D. | $1,096.78
| |
| E. | $1,660.25
|
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Credit Spreads Beginners Guide To Low Risk Secure Easy To Manage Consistent Profits For Long Term Wealth Creation
Authors: Casey Boon
1st Edition
1974677419, 978-1974677412
