This amortization table shows the first 6 payments on a 15-year mortgage. Payment Monthly Interest PrincipalOutstanding paid number payment paid balance $75 000.00 $594.92$315.42 $279.50 $74 720.50 $594.92$314.24 $280.68 $74 439.82 $594.92$313.06 $281.86 $74 157.96 $594.92$311.87 $283.05 $73 874.91 $594.92$310.68 $284.24 $73 590.68 $594.92$309.49 $285.43 $73 305.25 1 2 4 What percent of the mortgage has been paid after 6 payments? a) 2% b) 3% O c) 98% O d) 5%

This amortization table shows the first 6 payments on a 15-year mortgage. Payment Monthly Interest PrincipalOutstanding paid number payment paid balance $75 000.00 $594.92$315.42 $279.50 $74 720.50 $594.92$314.24 $280.68 $74 439.82 $594.92$313.06 $281.86 $74 157.96 $594.92$311.87 $283.05 $73 874.91 $594.92$310.68 $284.24 $73 590.68 $594.92$309.49 $285.43 $73 305.25 1 2 4 What percent of the mortgage has been paid after 6 payments? a) 2% b) 3% O c) 98% O d) 5%

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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