What would be the payment on the principal for the payment

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Reference no: EM131603450

1. Which of the following situations might result in a compliance audit?

A. low CMI

B. High CC/MCC capture rate

C. Decreased volume

D. Lower reimbursement

2. You are buying a home for $250,000. If you make a $50,000 down payment and take out a mortgage on the rest of the money at 8.5% compounded monthly, what would be the payment on the principal for the payment at the end of the seventh payment on a 15 year mortgage?

a. $1,969

b. $1,237

c. $576.70

d. $580.79

Reference no: EM131603450

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