Ianna Has Found a Fixed Rate Mortgage for $300 000

question 70

Multiple Choice

Ianna has found a fixed rate mortgage for $300 000 at four percent interest amortized over 30 years.Her payment will be $1426 per month.How much would her payment be if she wanted to amortize the mortgage over 15 years?

• A)$2219
• B)$1733
• C)$2214
• D)$1711

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