Asked by bb
Claudette borrows money to buy a house. She will have monthly payments based on 4.5% compounded monthly for 30 years.
Given:
A: Interest in the 45th payment B: Interest in the 90th payment
Select one:
a. A=B
b. A>B
c. B>A
d. Cannot be determined
Given:
A: Interest in the 45th payment B: Interest in the 90th payment
Select one:
a. A=B
b. A>B
c. B>A
d. Cannot be determined
Answers
Answered by
Reiny
As long as there is any interest at all involved
the interest contained in the 40th payment would be greater than in the 90th payment
the interest contained in the 40th payment would be greater than in the 90th payment
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