You Have a 30-Year Mortgage with a Simple Annual Interest

question 26

Multiple Choice

You have a 30-year mortgage with a simple annual interest rate of 8.5 percent.The monthly payment is R1,000.What percentage of your total payments over the first three years goes toward the repayment of principal?

• A) 1.50%
• B) 3.42%
• C) 5.23%
• D) 6.75%
• E) 8.94%

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the process of tracking and evaluating development or improvement over time.

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