Use an Amortization Schedule

question 12

Multiple Choice

Use an amortization schedule. A 15-year $100,000 mortgage has a fixed mortgage rate of 9 percent. In the first month, the total mortgage payment is $____, and $____ of this amount representspayment of interest.

• A) 1,014; 264
• B) 1,241; 750
• C) 1,014; 750
• D) none of the above

---

Definitions:

Quantitative Research

A research method that involves the collection and analysis of numerical data to understand patterns, relationships, or trends.

Research Methods

Systematic processes used in academic and professional fields to gather, analyze, and interpret data in order to draw conclusions or make informed decisions.

Approach-avoidance

A psychological conflict that occurs when a person is simultaneously drawn to and repelled by the same goal or object.

Avoidance-avoidance

A psychological conflict that occurs when a person must choose between two negative stimuli.