174k views
5 votes
The size of the monthly payment on a mortgage is not dependent on the

A) principal borrowed.
B) interest rate.
C) maturity.
D) broker's commission.

1 Answer

2 votes

Final answer:

The size of the monthly payment on a mortgage is not dependent on the broker's commission. It is determined by the principal borrowed, interest rate, and maturity of the loan.

Step-by-step explanation:

The size of the monthly payment on a mortgage is not dependent on the D) broker's commission. The monthly payment on a mortgage is determined by the principal borrowed, the interest rate, and the maturity of the loan. The principal borrowed refers to the amount of money that is being borrowed to purchase the house, and the interest rate determines the cost of borrowing that money. The maturity of the loan refers to the length of time over which the loan is repaid.

User Sarang Manjrekar
by
7.5k points