Question

PLEASE HELP You have just applied, and have been approved for a $175,000 mortgage. The rate quoted to you by the lender is 5.5% for a 30 year fixed mortgage. Use the provided table to determine how much of your first month’s payment goes towards the principal.
a.
$191.92
c.
$187.32
b.
$190.23
d.
$184.88

Answer 1

You have just applied, and have been approved for a $175,000 mortgage. The rate quoted to you by the lender is 5.5% for a 30 year fixed mortgage. Use the provided table to determine how much of your first month’s payment goes towards the principal.  The answer will be a. $359.21

Answer 2

The answer is a.............