What Are the Two Main Factors That Contribute to How

question 43

Multiple Choice

What are the two main factors that contribute to how much interest is paid on a mortgage loan?

• A) Repayment period and cost of insurance.
• B) Repayment period and interest rate.
• C) Repayment period and closing costs.
• D) Interest rate and closing costs.

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Definitions:

Generally Accepted Accounting Principles

A set of accounting standards and procedures used in the United States to compile financial statements, ensuring consistency and comparability across industries.

Payment Method

The means by which a payment is made and received, including cash, credit cards, bank transfers, and digital payment platforms.