You have just applied, and have been approved for a $175,000 mortgage. The rate quoted to you by the lender is 5.5% for a 30 year fixed mortgage. Use the provided table to determine how much of your first month's payment goes towards the principal.

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a.

$191.92

c.

$187.32

b.

$190.23

d.

$184.88

Question

Amina

25 August, 22:33

+5

Answers (1)

Know the Answer?

Angela Cruz · Answer 1

I think it's c yeah it's c for sure

You have just applied, and have been approved for a $175,000 mortgage. The rate quoted to you by the lender is 5.5% for a 30 year fixed mortgage. Use the provided table to determine how much of your first month's payment goes towards the principal./a.$191.92c.$187.32b.$190.23d.$184.88