You Are Looking at Purchasing a Home and Would Like

question 89

Multiple Choice

You are looking at purchasing a home and would like to obtain $100,000 mortgage amortized over25 years. The current interest rate on a 3-year term is 7% compounded semi-annually. What will your monthly payments be?

• A) $600
• B) $900
• C) $700
• D) $1,000

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Definitions:

Seconds

The basic unit of time in the International System of Units (SI), equivalent to 1/60th of a minute.

Venipuncture

The process of puncturing a vein with a needle to draw blood or administer medication.

Buffy Coat

The layer between the packed red blood cells and plasma in a centrifuged blood sample; this layer contains the white blood cells and platelets.

Centrifuged

The process of using centrifugal force to separate substances of different densities or to remove moisture.