Question: $ 9 0 , 0 0 0 reverse mortgage is for 1 0 years at 8 % interest rate where payments are made annually at

$90,000 reverse mortgage is for 10 years at 8% interest rate where payments are made annually at the end of each year. What portion of the loan balance at the end of year 10 represents principal?
Between 50% and 53%
Between 53% and 56%
Between 56% and 59%
Between 59% and 62%
Between 62% and 65%
Between 65% and 68%
Between 68% and 71%
$ 9 0 , 0 0 0 reverse mortgage is for 1 0 years

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