Calculate the Total Payments on a $200,000 Mortgage If Payment

question 23

Multiple Choice

Calculate the total payments on a $200,000 mortgage if payment is made at the beginning of each month and the annual interest rate is 5.5 percent for 30 years.

• A)$300,160
• B)$3,960,000
• C)$548,987
• D)$408,808

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