At the end of five years, calculating the loan balance of a constant payment mortgage is simply the:
A) Present value of a single amount
B) Future value of a single amount
C) Present value of an ordinary annuity
D) Future value of an ordinary annuity
Correct Answer:
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Q15: Inflation makes very little difference to lenders
Q19: Lenders and investors worry about default,interest rate,marketability,and
Q21: One of the most popular amortizing mortgages
Q22: One of the first amortizing mortgages was
Q23: APR stands for which of the following?
A)Annual
Q27: Which one of the following is TRUE
Q30: In comparison to the first month's payment
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Q38: Points are also known as:
A)Third party charges
B)Reduction
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