Solved

Suppose You Take an FRM of $150,000 at 7

Question 21

Multiple Choice

Suppose you take an FRM of $150,000 at 7.5% for 30 years.If you repay the mortgage at the end of year four,how much total interest did you pay?

A) $6,209
B) $44,134
C) $50,343
D) $227,575
E) cannot be determined

Related Questions

Q16: The mortgage constant (MC)factor calculates the payment

Q17: You take a fixed-rate mortgage for $132,000

Q18: You wish to purchase real property.The lender

Q19: You need a 30-year FRM and have

Q20: Your monthly payment on a $125,000 fixed-rate

Q22: A discount point is:<br>A) one percent of

Q23: Under a normal upward sloping yield curve

Q24: The annual percentage rate (APR)on a mortgage

Q25: A prepayment penalty in a mortgage has

Q26: In Roman law the an instrument used