Identify the correct formula to calculate the cumulative principal paid on a mortgage loan for the second year of the loan (periods 1-12, where rate is 5%, nper is 120, and present value is $147,000
A) =ABS(CUMIPMT(.05/12, 120,-147000,12,1,0 )) B) =CUMIPMT(.05/12, 120*12,-147000,1,12,0 )
C) =(ABS(CUMIPMT(.05/12, 120, 147000,1,12,0 )) D) =CUMIPMT(.05/12, 120*12, 147000,12,1,0 )
C
Computer Science & Information Technology
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