As Applied to Mortgage Loans,which of the Following Statements Is

question 91

Multiple Choice

As applied to mortgage loans,which of the following statements is FALSE?

• A)Advertised rates are annual percentage rates.
• B)A spreadsheet uses the periodic interest rate,not the annual percentage rate.
• C)By increasing the number of payments per year you increase your effective borrowing rate.
• D)You can find a monthly payment by dividing the annual payment by 12.

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Definitions:

Long-Term Memory

The capacity of the mind to store and retrieve information over extended periods, ranging from hours to decades.

Short-Term Memory

A limited-capacity store that can maintain unrehearsed information for about 20 to 30 seconds.

Sensory Memory

The shortest-term element of memory, which allows individuals to retain impressions of sensory information after the original stimuli have ended.

Central Executive

A component of working memory in cognitive psychology that manages and directs attention and the processing of information from other working memory subsystems.