Find the Monthly House Payment Necessary to Amortize the Following

question 11

Multiple Choice

Find the monthly house payment necessary to amortize the following loan.
-In order to purchase a home, a family borrows $70,000 at 12% for 15 years. What is the monthly payment?

• A) $902.99
• B) $700.00
• C) $46.67
• D) $840.12

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Definitions:

Physical Changes

Alterations in the body's structure or function that can be seen or measured, often associated with growth, aging, or health conditions.

Coordination

The ability to use different parts of the body together smoothly and efficiently.

Synaptic Pruning

A neurological process that reduces the number of synapses, or connections between neurons, to enhance the efficiency of neural networks.

Corpus Callosum

A thick band of nerve fibers that divides the cerebrum into left and right hemispheres, facilitating communication between the two sides of the brain.