Solve. -Determine How Much of the Total Loan Payment Applies Toward

Multiple Choice

Solve.
-Determine how much of the total loan payment applies toward principal and how much applies toward interest for a home mortgage of $162,150 with a fixed APR of 4.4% for 30 years.

A) $162,150 pays off the principal and $130,215.66 represents interest payments.
B) $162,150 pays off the principal and $130,127.39 represents interest payments.
C) $162,150 pays off the principal and $130,292.87 represents interest payments.
D) $162,150 pays off the principal and $130,164.17 represents interest payments.