Solve the Problem

question 221

Multiple Choice

Solve the problem. If necessary, use the table of monthly payments below. Round your answer to the nearest cent.
Monthly Payments to Repay Principal and Interest on a $1000 Mortgage
-Find the monthly payment needed to amortize principal and interest for the following fixed-rate mortgage.
Mortgage amount: $80,300
Term of mortgage: 20 years
Interest rate: 10.5%

• A)$801.70
• B)$774.91
• C)$828.85
• D)$758.18

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Definitions:

Stimulant Drug

A type of drug that increases activity in the body or brain, leading to increased alertness, attention, and physical energy.

Cocaine

Cocaine is a powerful stimulant drug derived from the leaves of the coca plant, which is illegal in many countries and can lead to severe addiction and health problems.

Neural Activity

The electrical and chemical processes that occur within neurons, contributing to brain functions such as thought and action.

Meditation

A practice where an individual uses a technique – such as mindfulness, or focusing the mind on a particular object, thought, or activity – to train attention and awareness, and achieve a mentally clear and emotionally calm and stable state.