Multiple Choice
Suppose you are ready to buy your first house.To buy the house,you will take out a $140,000 mortgage from the bank.The bank offers you the mortgage for 30 years at an APR of 6.0% with interest compounded monthly.For your tenth monthly payment,what is the reduction in principal?
A) $145.77
B) $156.18
C) $327.24
D) $359.64
Correct Answer:
Verified
Correct Answer:
Verified
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