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Author Question: Which of the following statements regarding a20-year monthly payment amortized mortgage with a ... (Read 72 times)

Ale

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on: Aug 7, 2023
Which of the following statements regarding a20-year monthly payment amortized mortgage with a nominal interest rate of12% is correct?

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The monthly payments willincreaseover time.


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The amount representing interest in the first payment would belowerif the nominal interest rate were 15% rather than 12%.


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A larger proportion ofthe firstmonthlypaymentwillbe interest, and a smaller proportion will be principal,thanfor the last monthly payment.


◦

Exactly 12% of the first monthly payment represents interest.

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Marked as best answer by Ale on Aug 7, 2023

MajorWaffle

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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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Ale

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Reply 2 on: Aug 7, 2023
Excellent

sailorcrescent

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

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