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momoluv25 momoluv25
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A year ago
A homeowner just obtained a25-year amortized mortgage loan for $120,000 at a nominal annual rate of7%, with 360 end-of-month payments. What percentage of the total payments made during the first 3 months will go toward payment of interest?


▸

79.25%



▸

80.62%



▸

81.90%



▸

82.43%

Textbook 
Financial Management: Theory and Practice

Financial Management: Theory and Practice


Edition: 4th
Authors:
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alpha987alpha987
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A year ago
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momoluv25 Author
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A year ago
Correct Slight Smile TY
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Smart ... Thanks!
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