Tracey Is Buying a Condo and Will Have a Mortgage

question 35

Multiple Choice

Tracey is buying a condo and will have a mortgage of $180 000 which she plans to pay off in 25 years.The interest rate is 5% compounded semi-annually.Her payments would be $1046 a month.She has heard she can reduce the time it would take to pay off her mortgage if she pays $523 every two weeks instead.How many years it would take her to pay off her mortgage if she chooses the second option.

• A)10.2 years
• B)21.7 years
• C)25.0 years
• D)21.5 years

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Definitions:

Process of Therapy

The broad sequence of steps or stages through which therapy occurs, from assessment and diagnosis to intervention and evaluation.

Climate

The average weather conditions of a particular area over a long period, including temperature, precipitation, humidity, and wind patterns.

Therapeutic Efficacy

Therapeutic efficacy refers to the ability of a treatment or drug to provide a beneficial effect (medical improvement or cure) on the disease or condition being treated.

Therapeutic Efficacy

The ability of a treatment to produce a beneficial result under ideal conditions.