As Applied to Mortgage Loans,which of the Following Statements Is

question 91

Multiple Choice

As applied to mortgage loans,which of the following statements is FALSE?

• A)Advertised rates are annual percentage rates.
• B)A spreadsheet uses the periodic interest rate,not the annual percentage rate.
• C)By increasing the number of payments per year you increase your effective borrowing rate.
• D)You can find a monthly payment by dividing the annual payment by 12.

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