Question: 4. Approximately how much of the first payment will be interest for a $259,000, thirty year mortgage, 3.42% APR, annual payments? A.) $13,941.38 B.) $11,421.90
4. Approximately how much of the first payment will be interest for a $259,000, thirty year mortgage, 3.42% APR, annual payments?
| A.) | $13,941.38 | |
| B.) | $11,421.90 | |
| C.) | $9,753.65 | |
| D.) | $8,857.80 |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock