State the Type and Answer the Question

question 36

Short Answer

State the type and answer the question. What is the monthly payment for a home costing $125,000 with a 20% down payment and the balance financed for 25 years at 10%?
​
Please round the answer to the nearest cent.
​
The type is __________ (present value, amortization, annuity); the monthly payment equals $__________.

---

Definitions:

Hungry

A sensation experienced when one's body signals the need for food intake.

Thirsty

The feeling of needing to drink liquids, often as a result of dehydration or the desire for refreshment.

External Cues

External signals or triggers that influence behavior or responses.

Obesity

A medical condition characterized by excessive body fat that presents a risk to health, typically measured by a body mass index (BMI) of 30 or higher.