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Suppose you have taken out a $200,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 4.25%.
Suppose you have taken out a $200,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 4.25%. At exactly the half-way point of the mortgage, how much of the monthly mortgage payment does the principal repayment portion consist of?
Group of answer choices
$1,094.52
$796.22
$799.04
$984.38
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