If You Have a $150,000 30-Year 5% Mortgage, How Much

question 36

Multiple Choice

If you have a $150,000 30-year 5% mortgage, how much of your first monthly payment of $805.50 would go toward principal?

• A) $180.50
• B) $625.00
• C) $665.28
• D) $805.50
• E) $7,500.00

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Definitions:

Isopropyl Alcohol

A secondary alcohol commonly used as a solvent and disinfectant, known for its ability to evaporate quickly.

Acetone

A volatile, colorless solvent widely used in organic chemistry and as a nail polish remover, known for its ability to dissolve many plastics and synthetic fibers.

Reactive Intermediate

Transitory species that are formed during a chemical reaction and participate in further reaction steps until the final products are produced.

Oxidation

The process where a substance undergoes an increase in its oxidation state, often associated with the addition of oxygen or removal of hydrogen.