Use the Following Information to Answer the Question(s)below

question 52

Multiple Choice

Use the following information to answer the question(s) below.
Dagny Taggart has just purchased a home and taken out a $400,000 mortgage.The mortgage has a 30-year term with monthly payments and has an APR of 5.4%.
-The total amount of interest that Dagny will pay during the first month of her mortgage is closest to:

• A)$1110.
• B)$1785.
• C)$1800.
• D)$2245.

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Definitions:

Allegation

A claim or assertion that someone has done something illegal or wrong, typically made without proof.

Clear

Transparent or easy to understand; not clouded or obscured.

Concise

Concise refers to providing a lot of information clearly and in a few words; brief but comprehensive.

Legalese

A specialized language filled with legal terms and phrases that is used within the legal profession.