Question

You have a mortgage of $125,600.00 at a 4.95% APR. You make a payment of $1,500.00 each month. What is your principal balance at the beginning of the third month? (1 point)

$122,600.00
$123,632.15
$123,636.20
$122,654.30

Answer 1

$123,632.15

Answer 2

this is correct