You have a 30-year mortgage with a simple annual interest rate of 8.5 percent.The monthly payment is R1,000.What percentage of your total payments over the first three years goes toward the repayment of principal?
A) 1.50%
B) 3.42%
C) 5.23%
D) 6.75%
E) 8.94%
Correct Answer:
Verified
Q85: You will receive a R100 annual perpetuity,
Q86: You are currently saving for your child's
Q87: Your employer has agreed to make 80
Q88: Your father, who is 60, plans to
Q89: Your lease calls for payments of R500
Q90: Assume that you just had a child,
Q91: You are considering an investment in a
Q92: Your client just turned 75 years old
Q94: You plan to invest R2,500 in a
Q95: Hillary is trying to determine the cost
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents