A buyer has a 30 year 7.5% loan for 90% of the appraised value on property that appraised for $140,000 , but also sold $150,000. what is the interest portion of the first payment?? a.$787.50 b.$843.75 c$875.00 d.$1,068.75

A buyer has a 30 year 7.5% loan for 90% of the appraised value on property that appraised for $140,000 , but also sold $150,000. what is the interest portion of the first payment?? a.$787.50 b.$843.75 c$875.00 d.$1,068.75

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

A buyer has a 30 year 7.5% loan for 90% of the appraised value on property that appraised for $140,000 , but also sold $150,000. what is the interest portion of the first payment??

a.$787.50

b.$843.75

c$875.00

d.$1,068.75

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