How Many Monthly Payments Remain to Be Paid on an 8

question 80

Multiple Choice

How many monthly payments remain to be paid on an 8 percent mortgage with a 30-year amortization and monthly payments of $733.76, when the balance reaches one-half of the initial $100,000 amount?

• A)Approximately 268 payments
• B)Approximately 180 payments
• C)Approximately 92 payments
• D)Approximately 68 payments $50,000 = $733.76 [1/.08-1/.08 (1.0067)ⁿ

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Definitions:

Psychoanalytic Theorists

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