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A $100,000 Mortgage at 8

Question 12

Multiple Choice

A $100,000 mortgage at 8.5% over thirty years has a monthly payment of $768.91. A $200,000 mortgage with the same terms would have a monthly payment of


A) considerably less than twice $768.91
B) twice $768.91
C) considerably more than twice $768.91
D) slightly more than twice $768.91

Correct Answer:

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