In Order to Purchase a Home, a Family Borrows $60,000

question 158

Multiple Choice

In order to purchase a home, a family borrows $60,000 at an annual interest rate of 11%, to be paid back over a 30 year period in equal monthly payments. Find the total amount paid to the finance company for the life of the
Loan. Round your answer the nearest dollar.

• A) $198,000
• B) $199,461
• C) $201,934
• D) $205,702

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Definitions:

Toxins

Poisonous substances produced by living cells or organisms that can cause disease when introduced into the body tissues.

Complement System

A part of the immune system that enhances (complements) the ability of antibodies and phagocytic cells to clear microbes and damaged cells from an organism.

Clonal Selection

Lymphocyte activation in which a specific antigen causes activation, cell division, and differentiation only in cells that express receptors with

Mitotic Expansion

The increase in cell number through the process of mitosis, where a single cell divides to form two genetically identical daughter cells.