Multiple Choice
Suppose you have taken out a $125,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment, how much of the original loan balance is remaining?
A) $1,054.82
B) $120,603.78
C) $124,570.18
D) $124,875.56
Correct Answer:
Verified
Correct Answer:
Verified
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