What Is the Monthly Payment on an $80,000, 9% Interest-Only

question 1

Multiple Choice

What is the monthly payment on an $80,000, 9% interest-only mortgage?

• A) $600.00.
• B) $811.41.
• C) $1005.78.
• D) $7200.00.

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Definitions:

Owner Control

The extent to which the owners of a business have the power to make decisions and influence the company's operations and strategic direction.

Bonds

Fixed income investments representing loans made by an investor to a borrower, typically corporate or governmental, which pay interest at predetermined intervals.

Notes Payable

A written agreement where the borrower promises to pay back a certain amount of money, under specific terms, to the lender at a future date.

Unamortized Discount

The portion of a bond's issue price that is below its face value and has not yet been amortized over the life of the bond.