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1 A 2 Mortgage amount B C D E 3 Payments per year $300,000 12 4 Term (years) Annual interest rate 5 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 6 25 10.0% 7 20 9.0% 8 30 9.5% 6 25 11.0% 10 Which formula correctly calculates the monthly payment on a 20-year, 9.0%, $300,000 mortgage as a positive value? Multiple Choice FPMT B7 $B$3.A7*$B$3.$B$2) FPMT B7.A7.82 =-PMT 87 $853.A7-SBS3.SBS2) |=-PMT 87-$860,47 3833 6862)

1 A 2 Mortgage amount B C D E 3 Payments per year $300,000 12 4 Term (years) Annual interest rate 5 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 6 25 10.0% 7 20 9.0% 8 30 9.5% 6 25 11.0% 10 Which formula correctly calculates the monthly payment on a 20-year, 9.0%, $300,000 mortgage as a positive value? Multiple Choice FPMT B7 $B$3.A7*$B$3.$B$2) FPMT B7.A7.82 =-PMT 87 $853.A7-SBS3.SBS2) |=-PMT 87-$860,47 3833 6862)

Essentials Of Investments
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
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1 A 2 Mortgage amount B C D E 3 Payments per year $300,000 12 4 Term (years) Annual interest rate 5 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 6 25 10.0% 7 20 9.0% 8 30 9.5% 6 25 11.0% 10 Which formula correctly calculates the monthly payment on a 20-year, 9.0%, $300,000 mortgage as a positive value? Multiple Choice FPMT B7 $B$3.A7*$B$3.$B$2) FPMT B7.A7.82 =-PMT 87 $853.A7-SBS3.SBS2) |=-PMT 87-$860,47 3833 6862)
Transcribed Image Text:1 A 2 Mortgage amount B C D E 3 Payments per year $300,000 12 4 Term (years) Annual interest rate 5 1) Monthly payment amount ($) 2) Total amount repaid over term ($) 3) Total interest paid over term ($) 6 25 10.0% 7 20 9.0% 8 30 9.5% 6 25 11.0% 10 Which formula correctly calculates the monthly payment on a 20-year, 9.0%, $300,000 mortgage as a positive value? Multiple Choice FPMT B7 $B$3.A7*$B$3.$B$2) FPMT B7.A7.82 =-PMT 87 $853.A7-SBS3.SBS2) |=-PMT 87-$860,47 3833 6862)
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