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LL Inc., issues a $760.000 adjustable rate mortgage note on January 1, 2020. The initial interest rate is 6%, but will m
Posted: Sun Apr 17, 2022 6:55 pm
by answerhappygod
- Ll Inc Issues A 760 000 Adjustable Rate Mortgage Note On January 1 2020 The Initial Interest Rate Is 6 But Will M 1 (12 KiB) Viewed 27 times
LL Inc., issues a $760.000 adjustable rate mortgage note on January 1, 2020. The initial interest rate is 6%, but will move up or down each year with the market rate. Annual December 31 installment payments are $70,000, exclusive of taxes and insurance. If Ll's interest rates are 6% in 2020,7% in 2021,8% in 2022, and 9% in 2023, what is Ll's principal balance after the December 31, 2023 payment? $697,860.71 O $703.811.36 O $689,898.27 O $532,000.00