Question: Multiple Choice A 1 5 - year mortgage will have larger monthly payments than a 3 0 - year mortgage. If an account earns 3

Multiple Choice
A 15-year mortgage will have larger monthly payments than a 30-year mortgage.
If an account earns 3 percent per year compounded annually, then it also has an effective annual of 3 percent.
The present value of a $500 perpetuity is greater if the interest rate is higher.
The first, second, and third statements above are correct.
Only the first and second, statements above are correct.
Multiple Choice A 1 5 - year mortgage will have

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