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Hillier Hillier
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6 years ago
How much interest is paid after the first payment interval on a $100 000 mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 6% compounded semi-annually. Round your answer to the nearest dollar.
A) $146
B) $640
C) $527
D) $494
E) $401
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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SupremeSupreme
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Hillier Author
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5 years ago
Helpful!
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#3
3 years ago
Thanks
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