Jackson Purchased a Home with a 30-Year, 6% Compounded Monthly

question 18

Multiple Choice

Jackson purchased a home with a 30-year, 6% compounded monthly mortgage loan for $375,000. How much will he pay the bank in the loan's first year?

• A)​$809,391
• B)​$26,980
• C)​$2,248
• D)​$434,391

---

Definitions:

Input Instructions

Commands or codes in a program that are used to read and process data from external sources.

Output Instruction

A command in programming or PLC operations that controls the output of data or signals to external devices.

Motor Start

Motor start refers to the process or the set of actions initiated to begin the operation of an electric motor. This can involve mechanisms like direct on-line starters or soft starters to manage electrical load and torque.

Tags

Identifiers used in programming languages or systems, especially in PLCs, to name or reference data elements like inputs, outputs, and internal values.