How Many Monthly Payments Remain to Be Paid on an 8

question 69

Multiple Choice

How many monthly payments remain to be paid on an 8% compounded monthly mortgage with a 30-year amortization and monthly payments of $733.76, when the balance reaches one-half of the $100,000 mortgage?

• A)approximately 268 payments
• B)approximately 180 payments
• C)approximately 91 payments
• D)approximately 68 payments

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Definitions:

Characteristic Adaptation

Patterns of behavior that are developed in response to the environment and are consistent over time and situations.

Basic Tendency

An underlying characteristic or predisposition to respond to the environment in a certain way, often considered stable over time.

Reticular Activating System

A network of nerves in the brainstem that plays a key role in regulating wakefulness, attention, and sleep-wake transitions.

Temperament

A person's or animal's nature, especially as it permanently affects their behavior.