assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000
assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 6FPE
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assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment?
a) $7,000; $133.33
b)$133.33; $7,000
c)$14,000; $2,177.28
d) $2,177.28; $14,000
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