Beverly Frost Bought a Home for $190,000 with a Down

question 30

Multiple Choice

Beverly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since then the rate has risen to 9%. How much more would her monthly payment be if she bought the house at 9%?

• A)$208.97
• B)$436.40
• C)$143.00
• D)$227.43
• E)None of these

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Definitions:

Middleman

A generic term for intermediaries in the distribution channel who facilitate transactions between producers and end consumers.

Distribution Chain

A sequence of intermediaries that goods pass through from the manufacturer to the final consumer.

Intermediary

Entities or individuals that act as a mediator or a link between two parties, typically in a transaction or communication process.

Legal Authority

The officially sanctioned power to make decisions, to direct others, or to enact laws or directives.