Which of the following is NOT one of the financial components of a mortgage payment?Select one:a. Termb. Face Valuec. Amortizationd. Title
Question
Solution 1
The correct answer is d. Title.
Here's why:
a. Term: This is a component of a mortgage payment. The term is the length of time you have to pay off your mortgage.
b. Face Value: This is also a component of a mortgage payment. The face value is the original amount of money borrowed in a loan.
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