How Many Monthly Payments Remain to Be Paid on an 8

question 59

Multiple Choice

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

• A) Approximately 268 payments
• B) Approximately 180 payments
• C) Approximately 92 payments
• D) Approximately 68 payments

---

Definitions:

Gauge

A measure of the thickness or size of various items, like wire or body piercing jewelry, or a device for measurement.

Measurable Dose

A quantity of a substance, especially a medicine, that can be accurately measured and is suitable for administration.

10-mL Syringe

A syringe that can hold up to 10 milliliters of fluid, often used for medical injections or to measure medications accurately.

mL

Milliliters, a metric unit of volume equal to one thousandth of a liter, commonly used to measure liquid quantities.