How Much Principal Is Repaid in the 74th Payment Interval

question 84

Multiple Choice

How much principal is repaid in the 74th payment interval on a $142 300 mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 7.44% compounded monthly.

• A) $257.16
• B) $275.16
• C) $527.16
• D) $572.16
• E) $574.16

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Definitions:

Locus of Control

A psychological concept that describes an individual's belief about the degree to which they can control events affecting them.

Dogmatism

The tendency to lay down principles as undeniably true, without consideration of evidence or the opinions of others.

Sexual Orientation

Refers to an individual's patterns of emotional, romantic, or sexual attraction to people of the same gender, opposite gender, both genders, or no gender.

EEOC

The Equal Employment Opportunity Commission, a federal agency tasked with enforcing laws prohibiting employment discrimination in the United States.