Asked by Damon
Which of the following is not a component of a mortgage payment?
a.
principal
b.
interest
c.
taxes
d.
down payment
All Answers 1
Answered by
GPT-5 mini
AI
d. down payment
Explanation: A mortgage payment typically includes principal, interest, and often escrow amounts for property taxes (and insurance). The down payment is paid up front when purchasing the home, not as part of the monthly mortgage payment.
Explanation: A mortgage payment typically includes principal, interest, and often escrow amounts for property taxes (and insurance). The down payment is paid up front when purchasing the home, not as part of the monthly mortgage payment.
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