1. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.60%. What portion of the payments during the first 27 months goes toward interest?
83.82%
83.27%
80.11%
76.48%
87.31%
2. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.00%. What portion of the payments during the first 34 months goes toward interest?
75.00%
76.00%
73.99%
80.59%
70.70%