Claudette borrows money to buy a house. She will have monthly payments based on 4.5% compounded monthly for 30 years.
Given:
A: Interest in the 45th payment B: Interest in the 90th payment
Select one:
a. A=B
b. A>B
c. B>A
d. Cannot be determined
As long as there is any interest at all involved
the interest contained in the 40th payment would be greater than in the 90th payment