Solve the Problem. -A $95,000 Mortgage for 30 Years at 11% APR Requires

question 14

Multiple Choice

Solve the problem.
-A $95,000 mortgage for 30 years at 11% APR requires monthly payments of $904.71. Suppose you decided to make monthly payments of $1,100. How much do you save with the greater payments compared to the original
Plan?

• A) $136,605.60
• B) $96,411.50
• C) $102,468.40
• D) $152,591.75

---

Definitions:

Member-to-member Interaction

The exchange of information, support, or feedback between members of a group or team, outside of formal leadership interactions.

Structured Educational Group

A planned and systematically organized group in an educational setting aimed at achieving specific learning objectives.

Group Cohesion

The extent to which members of a group stick together, demonstrating unity and willingness to work cooperatively towards common goals.

Activities

Activities are specific actions or tasks undertaken by individuals or groups to accomplish a goal.