Which of the Following Statements Regarding a 20-Year (240-Month) $225,000

question 28

Multiple Choice

Which of the following statements regarding a 20-year (240-month) $225,000, fixed-rate mortgage is CORRECT? (Ignore taxes and transactions costs.)

• A) The outstanding balance declines at a slower rate in the later years of the loan's life.
• B) The remaining balance after three years will be $225,000 less one third of the interest paid during the first three years.
• C) Because it is a fixed-rate mortgage, the monthly loan payments (which include both interest and principal payments) are constant.
• D) Interest payments on the mortgage will increase steadily over time, but the total amount of each payment will remain constant.
• E) The proportion of the monthly payment that goes towards repayment of principal will be lower 10 years from now than it will be the first year.

Recognize psychological and economic needs influencing customer purchases.

Understand the importance of emphasizing product benefits in sales presentations.

Identify specific sales strategies, like the SELL Sequence and FAB technique, for effective sales presentations.

Discern the different levels of consumer need awareness and appropriate sales techniques for each.

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Definitions:

Messenger RNA

A type of RNA that conveys genetic information from DNA to the ribosome, where it specifies the amino acid sequence of the protein products of gene expression.

Transcription

The process by which the information in a strand of DNA is copied into a new molecule of messenger RNA (mRNA).

Kinetochore

Structural portion of the chromosome to which microtubules attach.

Basal Body

A cellular structure found at the base of a eukaryotic flagellum or cilium, acting as a microtubule organizing center and initiating the growth of the appendage.