Suppose you take an FRM of $150,000 at 7.5% for 30 years.What is the breakdown of interest and principal for the payment in month 240?
A) $1048.82 interest,$0 principal
B) $0 interest,$1048.82 principal
C) $493.50 interest,$555.32 principal
D) $555.32 interest,$493.50 principal
E) cannot be determined
Correct Answer:
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Q8: Your monthly payment on a $125,000 fixed-rate
Q9: Suppose your FRM monthly payment is $1048.82
Q10: The mortgage constant (MC)factor calculates the payment
Q11: In Roman law the an instrument used
Q12: Suppose you take an FRM of $150,000
Q14: Under a normal upward sloping yield curve
Q15: The annual percentage rate (APR)on a mortgage
Q16: The Federal Deposit Insurance Corporation was enacted
Q17: The Truth-in-Lending law:
A) requires the lender disclose
Q18: The Federal National Mortgage Association was formed
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