Solve.Peter is making monthly mortgage payments of $868 for his home mortgage. He noticed on his monthly statement that $843 is used to pay off the interest charge. Only $25 is used to pay off the principal. What percent of his monthly mortgage payment is used to pay off the interest charge? Round to the nearest tenth of a percent, if necessary.

A. 0.97%
B. 97.1%
C. 9.7%
D. 0.0097%


Answer: B

Mathematics

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Mathematics