An owner has a mortgage for $50,000 at 9% for 30 years with monthly payments of $403 per month. What is true of this loan?
A) $135,000 is the interest of he loan
B) $27 is the principal paid on the 1st payment only
C) $28 is the interest paid on the 1st payment only
D) $403 is applied to principal on the 1st payment
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.