The dollar amount of mortgage loan multiplied monthly payment of mortgage loan per dollar is used to calculate

semiannually mortgage payment

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daily mortgage payment

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monthly mortgage payment

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annually mortgage payment

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Solution

The correct option is C monthly mortgage payment
$\Rightarrow$ Dollar amount of mortgage loan multiplied monthly payment of mortgage loan per dollar is used to calculate $m o n t h l y m o r t g a g e p a y m e n t .$
$\Rightarrow$ The most common mortgage terms are 15 years and 30 years. Interest rate Annual fixed interest rate for this mortgage. Monthly payment (PI) Monthly principal and interest payment (PI).
$\Rightarrow$ Monthly payment (PITI) Monthly payment including principal, interest, homeowners insurance and property taxes.

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