Question
Suppose you have a $100,000 fixed-rate level-payment mortgage as follows. What is the ending balance of the loan after the first monthly payment? -
Suppose you have a $100,000 fixed-rate level-payment mortgage as follows. What is the ending balance of the loan after the first monthly payment?
- 15 year amortized term
- 6% annual interest
Question options:
| $99,156.14 | |
| $93,563.56 | |
| $99,656.14 | |
| $99,500.00 |
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
