John House Has Taken a 20-Year, $250,000 Mortgage on His

question 34

Multiple Choice

John House has taken a 20-year, $250,000 mortgage on his house at an interest rate of 6 percent per year. What is the remaining balance (or value) of the mortgage after the payment of the fifth annual installment?

• A)$128,958.41
• B)$211,689.53
• C)$141,019.50
• D)$248,719.21

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Definitions:

Anticoagulants

Medications that help prevent blood clots by inhibiting the clotting factors or platelets in the blood.

Morning Care

The routine personal care activities carried out after waking up in the morning, such as washing, toileting, and dressing, to promote hygiene and preparedness for the day.

Back Massage

A therapeutic technique involving manipulation of the muscles in the back to relieve tension or pain.

Lumbar Laminectomy

A surgical procedure to relieve pressure on the spinal cord or nerves in the lower back by removing the lamina portion of a vertebra.