Constance Hairston Obtains a 25-Year, $145,550 Mortgage at 11

question 172

Multiple Choice

Constance Hairston obtains a 25-year, $145,550 mortgage at 11.5% on a house selling for $171,000. Her monthly payment, including principal and interest, is $1479.47. How much of the total cost
Will be interest?

• A)$387,778.55
• B)$298,291.19
• C)$277,410.81
• D)$328,120.31

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Definitions:

ISO 9000

A set of international standards for quality management and quality assurance designed to help companies ensure they meet customer and other stakeholder needs.

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The degree to which a product or service meets the specified standards and requirements, ensuring customer satisfaction.

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A graphical method used to display the relationship between two variables, typically to identify any correlation between them.