Bill's monthly payment is $1,056 per month. The principal is $100,000 at a rate of 12½% for 35 years. The amount of interest for Bill's first payment is $1,011.67.
Correct Answer:
Verified
Q32: Lizzy Clar bought a home for $160,000,
Q33: Ben Brown bought a home for $225,000.
Q34: Abby's monthly payment is $781.60 per month.
Q35: Points represent:
A)2% of the amount of the
Q36: The difference between the monthly payments on
Q38: Megan Mei is charged 2 points on
Q39: Graduated payments result in the borrower paying:
A)More
Q40: A variable rate mortgage means:
A)The interest rate
Q41: Match the following terms with their definitions.
-Graduated
Q42: With a mortgage of $48,000 for 15
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