A Customer Has a First Mortgage of $100,000 at 5

question 339

Multiple Choice

A customer has a first mortgage of $100,000 at 5.5% and a second mortgage of $50,000 at 7.8%. What is the average rate of mortgage that the customer pays?

• A) 6.7%
• B) 7%
• C) 5.9%
• D) 6.5%
• E) 6.3%

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Definitions:

Riots

Public disturbances against authority or between groups, characterized by violence, chaos, and possible destruction of property, often sparked by social or economic grievances.

Department Of Defense

The federal department charged with coordinating and supervising all agencies and functions of the government relating directly to national security and the United States armed forces.

Military Training

The process of educating and preparing individuals for service in the armed forces, including physical conditioning, tactical skills, and discipline development.

White Police Force

A policing organization composed predominantly or exclusively of white officers, which may reflect broader systemic racial biases.