The portion of the first month's mortgage payment meant for interest is $2,333.33
What is a mortgage?
Mortgage is a loan taken to acquire property which requires periodic interest payment such as monthly , semiannually or even annually.
First month interest=loan amount*annual interest rate/12
First month interest=$400,000*7%/12
First month interest=$2,333.33
Find further explanation on mortgage interest below:
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Answer:
(A) demanders of loanable funds, they must borrow from households.
Explanation:
The firms are the one which do business of producing goods, or of providing services, it basically need money to run their business. Therefore, it demands money and borrows from banks or households, from households by issuing bonds, shares to individual investors etc:.
This clearly states that the firms are the one's who take loans and then the returns are paid to government in the form of taxes.
Thus, the correct option is :
Statement A
You need to analyze your personal achievements, or B. Without doing this, there is nothing to put on your resume.