If Closing Costs of $1,950 Are Associated with the Refinance

question 107

Multiple Choice

If closing costs of $1,950 are associated with the refinance of a mortgage that would reduce the monthly payment from $890 to $780,it would take approximately ________ months to cover these costs.

• A)8
• B)16
• C)18
• D)20
• E)22

---

Definitions:

Political Action Committees

Organizations that collect funds from members or donors and contribute them to campaign funds of candidates or political parties they support, often influencing political outcomes.

Citizen Involvement

The participation and engagement of ordinary citizens in governmental or civic activities, decision making, and policy setting.

Primary System

The process by which political parties in the United States select their candidates for election to public office, typically through votes by registered party members.

Public Best

The concept of acting in the interest and welfare of the general public or community at large.