Marsha Terban Bought a Home for $119,000 with a Down

question 15

Multiple Choice

Marsha Terban bought a home for $119,000 with a down payment of $19,000. Her rate of interest is 12 1/2% for 35 years. The balance of the mortgage at the end of the first month is:

• A) $3.33
• B) $98,944
• C) $99,669.76
• D) $99,986.42
• E) None of these