At the End of Five Years,calculating the Loan Balance of a Constant

question 27

Multiple Choice

At the end of five years,calculating the loan balance of a constant payment mortgage is simply the:

• A) present value of a single amount.
• B) future value of a single amount.
• C) present value of an ordinary annuity.
• D) future value of an ordinary annuity.

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Definitions:

Linked Table

In database management, a table that is connected to another table or data source, allowing for data synchronization or referencing.

Field

In computing, a field refers to an area allocated for a specific piece of data within a database.

Foreign Key Field

A field in a database table that creates a linkage between two tables by referencing the primary key in another table.

Relational Database

A type of database that stores and provides access to data points that are related to one another, typically structured in tables.