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What will still owe when the five-year term is over

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Question 1: Rob wants to buy a $700,000 loft. He intends to put a $250,000 down-payment and take a 30-year amortized mortgage on the rest. He will choose a 5-year fixed term with monthly payments. The current rate is 3% compounded quarterly. What will he still owe when the 5-year term is over?

Option A. 399-401k

Option B. 401-403k

Option C. 403-405k

Option D. 405-407k

Reference no: EM132575764

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