Solve the Problem

question 148

Multiple Choice

Solve the problem. If necessary, refer to the table below.
-In order to purchase a home, a family borrows $65,000 at an annual interest rate of 11%, to be paid back over a 30-year period in equal monthly payments. How much interest will they pay over the
30-year period? Round to the nearest dollar.

• A)$157,844
• B)$215,694
• C)$445,867
• D)$222,844

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Definitions:

Many Types

A phrase indicating the existence of a wide variety of categories or varieties within a particular subject or group.

Families

Groups of individuals related by blood, marriage, or a significant shared bond, who often live together and provide mutual support.

Thrive

To grow, develop, or be successful vigorously; indicating both robust physical health and psychological well-being.

Lawrence Kohlberg

A psychologist known for his theory of moral development, which describes how individuals evolve in their moral reasoning through different stages.