A Homeowner Has Five Years of Monthly Payments of $1400

question 18

Multiple Choice

A homeowner has five years of monthly payments of $1400 before she has paid off her house. If the interest rate is 6% APR, what is the remaining balance on her loan?

• A) $57,933
• B) $86,899
• C) $72,416
• D) $101,382

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