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rado202 rado202
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A year ago
Which of the following statements regarding a10-year (120-month), $100,000 fixed-rate mortgage is correct? (Ignore all taxes and transaction costs.)


▸

The remaining balance after2years will be $100,000 less the total amount of interest paid during the first24months.



▸

Because it is a fixed-rate mortgage, the monthly loan payments (which include both interest and principal payments) are constant.



▸

The proportion of the monthly payment that goes toward repayment of principal will belower 6years from now than it will be the first year.



▸

The outstanding balance gets paid off at a faster rate in theearlieryears of a loan’s life.

Textbook 
Financial Management: Theory and Practice

Financial Management: Theory and Practice


Edition: 4th
Authors:
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sagitario81sagitario81
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A year ago
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rado202 Author
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A year ago
You make an excellent tutor!
jasonbourne
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Just got PERFECT on my quiz
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This site is awesome
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