Multiple Choice
A homeowner just obtained a 30-year amortized mortgage loan for $150,000 at a nominal annual rate of 6.5%, with 360 end-of-month payments. What percentage of the total payments made during the FIRST 3 MONTHS will go toward payment of interest?
A) 81.34%
B) 85.62%
C) 89.90%
D) 94.40%
Correct Answer:
Verified
Correct Answer:
Verified
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