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The fixed payment for a mortgage is P1 297.20. The original balance is P200 000.00. If the interest payment was P1 123.06 and the principal payment was P174.14, what is the new balance on the loan? A. PI 223.06 B. P1 297.20 C. PI98 876.94 D. P199 825.86

The fixed payment for a mortgage is P1 297.20. The original balance is P200 000.00. If the interest payment was P1 123.06 and the principal payment was P174.14, what is the new balance on the loan? A. PI 223.06 B. P1 297.20 C. PI98 876.94 D. P199 825.86

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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The fixed payment for a mortgage is P 1297.20. The original balance is P 200,000. If the interest payment was P 1123.06 and the principal payment was P 174.14, what is the new balance on the loan?

10. The fixed payment for a mortgage is P1 297.20. The original balance is P200 000.00. If the interest payment was P1 123.06 and the principal payment was P174.14, what is the new balance on the loan? A. PI 223.06 B. PI 297.20 C. P198 876.94 D. P199 825.86
Transcribed Image Text:10. The fixed payment for a mortgage is P1 297.20. The original balance is P200 000.00. If the interest payment was P1 123.06 and the principal payment was P174.14, what is the new balance on the loan? A. PI 223.06 B. PI 297.20 C. P198 876.94 D. P199 825.86
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