You Need a Loan of $100,000 to Buy a Condo $4 \%$

question 30

Multiple Choice

You need a loan of $100,000 to buy a condo. Calculate your monthly payments and total closing costs for each choice.
-Choice 1: 30-year fixed rate at $4 \%$ with closing costs of $\$ 1323$ and no points Choice 2: 20-year fixed rate at $3.5 \%$ with closing costs of $\$ 1323$ and 2 points

• A) Choice 1: \(\$ 543.49 ; \$ 1323\)
• Choice 2: \(\$ 474.36 ; \$ 3123\)
• B) Choice 1: \(\$ 605.98 ; \$ 1323\)
• Choice 2: \(\$ 449.04 ; \$ 3073\)
• C) Choice 1: \(\$ 477.42 ; \$ 1323\)
• Choice 2: \$579.96; \$3323
• D) Choice 1: \(\$ 421.10 ; \$ 1323\)
• Choice 2: \(\$ 586.19\); \$2646

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Definitions:

Thylakoid Membrane

A membrane-bound compartment inside chloroplasts and cyanobacteria, which contains chlorophyll and is the site of the light-dependent reactions of photosynthesis.

Stroma

The supportive tissue of an epithelial organ, tumor, gonad, etc., consisting of connective tissues and blood vessels, or the dense fluid found inside the chloroplasts of plant cells.

Thylakoid Compartment

The thylakoid compartment is a space within the chloroplasts of plant cells, surrounded by thylakoid membranes, where the light-dependent reactions of photosynthesis occur.

Electron Transport Chain

A series of complexes that transfer electrons from electron donors to electron acceptors via redox reactions and couples this electron transfer with the transfer of protons (H+ ions) across a membrane.