This amortization table shows the first 3 payments on a mortgage. Payment Monthly Interest PrincipalOutstanding balance number payment paid paid $160 000.00 $159 685.43 $159 369.08 $159 050.94 1 $1221.62$907.05 $314.57 2 $1221.62$905.26 $316.35 3 $1221.62$903.47 $318.14 In the amortization table, what percent of the first 3 payments is interest? O a) 74% O b) 26% O c) 33% d) 35%
This amortization table shows the first 3 payments on a mortgage. Payment Monthly Interest PrincipalOutstanding balance number payment paid paid $160 000.00 $159 685.43 $159 369.08 $159 050.94 1 $1221.62$907.05 $314.57 2 $1221.62$905.26 $316.35 3 $1221.62$903.47 $318.14 In the amortization table, what percent of the first 3 payments is interest? O a) 74% O b) 26% O c) 33% d) 35%
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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![This amortization table shows the first 3
payments on a mortgage.
Payment Monthly Interest PrincipalOutstanding
number payment paid
paid
balance
$160
000.00
$159
685.43
$159
369.08
$159
050.94
1
$1221.62$907.05 $314.57
$1221.62$905.26|$316.35
3
$1221.62$903.47 $318.14
In the amortization table, what percent of the
first 3 payments is interest?
O a) 74%
O b) 26%
O c) 33%
d) 35%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6031a8be-65c6-454d-9244-9546630839a2%2F18386db7-c612-4462-962b-3fade931f7e3%2F5s0vxx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:This amortization table shows the first 3
payments on a mortgage.
Payment Monthly Interest PrincipalOutstanding
number payment paid
paid
balance
$160
000.00
$159
685.43
$159
369.08
$159
050.94
1
$1221.62$907.05 $314.57
$1221.62$905.26|$316.35
3
$1221.62$903.47 $318.14
In the amortization table, what percent of the
first 3 payments is interest?
O a) 74%
O b) 26%
O c) 33%
d) 35%
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