Multiple Choice
How many monthly payments remain to be paid on an 8% compounded monthly mortgage with a 30-year amortization and monthly payments of $733.76, when the balance reaches one-half of the $100,000 mortgage?
A) approximately 268 payments
B) approximately 180 payments
C) approximately 91 payments
D) approximately 68 payments
Correct Answer:
Verified
Correct Answer:
Verified
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