How Much Interest Is Paid After the First Payment Interval

question 20

Multiple Choice

How much interest is paid after the first payment interval on a $100 000 mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 6% compounded semi-annually. Round your answer to the nearest dollar.

• A) $146
• B) $640
• C) $527
• D) $494
• E) $401

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Definitions:

Voyeurism

A sexual interest or practice involving the observation of others without their consent, often for sexual gratification.

Hidden Video Camera

A concealed device used to record videos without the knowledge of the individuals being recorded.

Fetishism

A type of sexual preference where gratification is linked to a non-living object, material, or specific part of the body.

Sexual Dysfunction

Disorders related to any phase of the sexual response cycle that prevent individuals from experiencing satisfaction from sexual activity.