Use the Real Estate Amortization Table to Find the Monthly

question 14

Multiple Choice

Use the real estate amortization table to find the monthly payment for the loan.
-What is the monthly payment on a 15-year loan of $101,300 if the annual interest rate is 5%?

• A)$774.95
• B)$668.58
• C)$1,074.79
• D)$801.28

---

Definitions:

Cash Receipts

The total amount of cash collected by a business during a specific period, including revenue from sales, interest, dividends, and other cash inflows.

Full Disclosure

A principle requiring that financial statements provide all necessary information to ensure a clear understanding of a company’s financial condition.

Internal Control Procedures

The methods and processes used by organizations to ensure the accuracy and integrity of their financial statements, compliance with laws and regulations, and efficient operations.

Continuous Operations

Activities that are expected to continue over an indefinite period, reflecting a business's ongoing ability to function.