FIN 303 Sample Exam Questions

b. The 30-year mortgage. c. Monthly payments are the same for 15-year and 30-year mortgages. d. None of the above. Please write your answer here _____. (Answer: a) You are going to take out a 30-year mortgage for $615,000 to buy a house. Your rate will be 6.5% and you will make monthly payments. The mortgage is non-amortizing. Therefore, at the ... ................
................