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

question 162

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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?

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Definitions:

Hydrophobic

Not readily interacting with water; having less affinity for water molecules than they have for each other. Compare with hydrophilic.

Nonpolar

A type of covalent bond where electrons are shared equally between atoms, leading to a molecule that does not have distinct poles or charges.

Glycogen

The principal storage polysaccharide in animal cells; formed from glucose and stored primarily in the liver and, to a lesser extent, in muscle cells

Cellulose

A structural polysaccharide consisting of beta glucose subunits; the main constituent of plant primary cell walls.

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