Question: Not sure how to answer this one Nevermind don't answer that i figured it out When Sue Meadow purchased a home, she signed a $150,000,

Not sure how to answer this one

Nevermind don't answer that i figured it out

When Sue Meadow purchased a home, she signed a $150,000, 12%, fully amortizing mortgage note, payable at $1.543 per month. After making the first monthly paymerit, Meadow received a notice from the bank stating that $1.500 of the payment had applied to interest and only $43 reduced the principal amount of the loan. Meadow does not understand how this loan is fully amortizing over a period of 30 years. She computes that at $43 per month. It will take approximately 3,488 months for 290 years to repay this loan Required: Evaluate Meadow's analysis

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