What Will Be the Monthly Payment on a Home Mortgage

question 79

Multiple Choice

What will be the monthly payment on a home mortgage of $75,000 at 12% interest compounded monthly, to be amortized over 30 years?

• A)$771.46
• B)$775.90
• C)$1,028.61
• D)$1,034.53

---

Definitions:

Marginal Product

The rise in output due to an extra unit of input.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, keeping all other inputs constant.

Marginal Profit

The rise in earnings achieved by selling an extra unit of a product or service.

Market Price

The current price at which an asset or service can be bought or sold in a marketplace.