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:

Unpleasant Memories

Recollections of past events that evoke negative emotions.

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The improper treatment of someone or something, often causing harm or injury.

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Networks of neurons interconnected to process and transmit information through electrical and chemical signals.

Eric Kandel

A neuroscientist known for his research on the physiological basis of memory storage in neurons.