crftyk4166 crftyk4166

25-08-2022
Business

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Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.00%. What portion of the payments during the first 34 months goes toward interest?
a. 76.00%
b. 73.99%
c. 80.59%
d. 75.00%
e. 70.70%

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