This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements regarding a10-year (120-month), $100,000 fixed-rate mortgage is ... (Read 54 times)

Aimless0988

  • Full Member
  • ***
  • Posts: 158
Which of the following statements regarding a10-year (120-month), $100,000 fixed-rate mortgage is correct? (Ignore all taxes and transaction costs.)

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


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


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


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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Aimless0988 on Aug 7, 2023

gcurrens

  • Full Member
  • ***
  • Posts: 170
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.
Answer Preview
Only 39% of students answer this correctly




Aimless0988

  • Member
  • Posts: 158
Reply 2 on: Aug 7, 2023
:D TYSM


kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

For a complete list of videos, visit our video library