Solved

If a 9%, $100,000 Loan Has a Balance of $83,724

Question 8

Multiple Choice

If a 9%, $100,000 loan has a balance of $83,724 and an annual payment of $13,965 is to be made, what will the allocation of principal and interest be?


A) $9,000 interest, $4,965 principal
B) $7,535 interest, $6,430 principal
C) $6,430 interest, $7,535 principal
D) $4,965 interest, $9,000 principal

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q3: Bavarian Brew Bond<br>Bavarian Brew is thinking about

Q4: Loose Cannon Co.<br>Loose Cannon Co. is evaluating

Q5: Bavarian Brew Bond<br>Bavarian Brew is thinking about

Q6: Bavarian Brew Bond<br>Bavarian Brew is thinking about

Q7: Loose Cannon Co.<br>Loose Cannon Co. is evaluating

Q9: Bear Lake Equipment Company (BLEC)<br>Bear Lake Equipment

Q10: Loose Cannon Co.<br>Loose Cannon Co. is evaluating

Q11: Bavarian Brew Bond<br>Bavarian Brew is thinking about

Q12: Bear Lake Equipment Company (BLEC)<br>Bear Lake Equipment

Q13: Choc-lattes Corp. earned $5.00 per share in