In Order to Purchase a Home, a Family Borrows $45,000

question 162

Multiple Choice

In order to purchase a home, a family borrows $45,000 at an annual interest rate of 9%, to be paid back over a 30 year period in equal monthly payments. What is their monthly payment?

• A) $362.08
• B) $11.25
• C) $337.50
• D) $377.64

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Definitions:

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The elevated sense of worth or value that an individual perceives about themselves.

Deportation

The act of formally removing a foreign national from a country for violating immigration laws.

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The signs and emotional, physical, and cognitive manifestations associated with the mood disorder depression, such as persistent sadness, loss of interest, and fatigue.

Ethnic Group

People whose ancestors were born in the same region. Usually they share a language, culture, and/or religion.