4
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Question 4 • LVA - Mathematical Modeling - Spring

You have just applied, and have been approved for a $175,000 mortgage. The rate quoted to you by the lender is 5.5% for a 30 year fixed mortgage. Use the provided table to determine how much of your first month’s payment goes towards the principal. a. $191.92 c. $187.32 b. $190.23 d. $184.88 Please select the best answer from the choices provided

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Answer
A
A
B
B
C
C
D
D
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You have just applied, and have been approved…