VWO Bedrijfseconomie Practice Questions - Netherlands VWO Bedrijfseconomie - Centraal Examen And Schoolexamen

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An individual borrows €240,000 on an annuity mortgage (annuïteitenhypotheek) at an annual interest rate of 3.0% with fixed gross monthly annuity payments of €1,011.85. In the very first month, how much of this payment goes toward interest and how much toward principal repayment?

Interest: €600.00; Principal: €411.85 Interest: €411.85; Principal: €600.00 Interest: €720.00; Principal: €291.85 Interest: €500.00; Principal: €511.85

Correct Answer:

Interest: €600.00; Principal: €411.85

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