CSIT MCQ CGS The original mortgage loan was for $300,000 with a 5% APR for 30 years. You want to calculate the interest on the last monthly payment at the end of the 15th year. What value should be referenced for the per argument in the IPMT function? Hint: Number of payment periods in a year is 12.

The original mortgage loan was for $300,000 with a 5% APR for 30 years. You want to calculate the interest on the last monthly payment at the end of the 15th year. What value should be referenced for the per argument in the IPMT function? Hint: Number of payment periods in a year is 12.

CGS

The original mortgage loan was for $300,000 with a 5% APR for 30 years. You want to calculate the interest on the last monthly payment at the end of the 15th year. What value should be referenced for the per argument in the IPMT function? Hint: Number of payment periods in a year is 12.

a. 180
b. 15
c. 30
d. 0.05/12

Answer: A. 180

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CSIT MCQ

The original mortgage loan was for $300,000 with a 5% APR for 30 years. You want to calculate the interest on the last monthly payment at the end of the 15th year. What value should be referenced for the per argument in the IPMT function? Hint: Number of payment periods in a year is 12.

The original mortgage loan was for $300,000 with a 5% APR for 30 years. You want to calculate the interest on the last monthly payment at the end of the 15th year. What value should be referenced for the per argument in the IPMT function? Hint: Number of payment periods in a year is 12.

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