Constance Hairston Obtains a 20-Year, $133,750 Mortgage at 11% on a House

question 254

Multiple Choice

Constance Hairston obtains a 20-year, $133,750 mortgage at 11% on a house selling for $159,000. Her monthly payment, including principal and interest, is $1380.55. How much of the total cost
Will be interest?

• A)61.9%
• B)40.4%
• C)57.9%
• D)59.6%

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