1 which of the following describes a fully amortizing, Ask an Expert

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1. Which of the following describes a fully amortizing loan?

Pay rate= accrual rate

Cannot be determined from information given

Pay rate> accrual rate

Pay rate< accrual rate

2. A borrower takes a fixed-rate mortgage for $400,000. The interest rate on this mortgage is 5%, the loan term is 30 years, and the borrower must make a monthly payment of $1,667 on this loan. Which of the following describes what kind of mortgage this borrower has?

a. Negatively amortizing

b. Partially amortizing

c. Fully amortizing

d. Interest only

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Financial Management, Finance

Category:- Financial Management
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