Question Carrie and Steve agree to a $149,000 mortgage at 5.5% annual interest for 30 years. They have a monthly payment of
$846.01 and the interest paid in month one is $682.92.
Assuming they only make the minimum payment in month one, what do you know about their loan?
Select the correct answer below:
O The monthly payment will increase and be more than $846.01.
The interest paid in month two will be $682.92.
0
The interest paid in month two will be less than $682.92.
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o
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