Question
Suppose the beginning balance of a mortgage in a specific month is $30,000. SMM of prepayment in that month is 0.003. The scheduled principal payment
Suppose the beginning balance of a mortgage in a specific month is $30,000. SMM of prepayment in that month is 0.003. The scheduled principal payment in that month is $841. What is the ending balance of the mortgage?
Group of answer choices
$29,071.52
$87.48
$928.47
$95.71
None of the above
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
