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Author Question: Which of the following statements regarding a10-year (120-month), $100,000 fixed-rate mortgage is ... (Read 9 times)

Aimless0988

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on: Aug 7, 2023
Which of the following statements regarding a10-year (120-month), $100,000 fixed-rate mortgage is correct? (Ignore all taxes and transaction costs.)

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The remaining balance after2years will be $100,000 less the total amount of interest paid during the first24months.


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Because it is a fixed-rate mortgage, the monthly loan payments (which include both interest and principal payments) are constant.


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The proportion of the monthly payment that goes toward repayment of principal will belower 6years from now than it will be the first year.


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The outstanding balance gets paid off at a faster rate in theearlieryears of a loan’s life.

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Marked as best answer by Aimless0988 on Aug 7, 2023

gcurrens

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Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Aimless0988

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Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review

jackie

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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