$6$:$06$

$\mathrm{.}11)5$G $444$

Done

Q

knewton.com

Question

Carrie and Steve agree to a $$149,000$ mortgage at $5\mathrm{.}5\%$ annual interest for $30$ years. They have a monthly payment of $$846\mathrm{.}01$ and the interest paid in month one is $$682\mathrm{.}92.$

Assuming they only make the minimum payment in month one, what do you know about their loan?

Select the correct answer below:

The monthly payment will increase and be more than $$846\mathrm{.}01.$

The interest paid in month two will be $$682\mathrm{.}92.$

The interest paid in month two will be less than $$682\mathrm{.}92.$

The interest paid in month two will be more than $$682\mathrm{.}92.$

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