You Put 20% Down on a Home with a Purchase

question 63

Multiple Choice

You put 20% down on a home with a purchase price of $250,000.The down payment is thus $50,000,leaving a balance owed of $200,000.A bank will loan you this remaining balance at 3.91% APR.You will make monthly end-of-the-period payments with a 30-year payment schedule.What is the monthly annuity payment under this schedule?

• A)$944.48
• B)$830.53
• C)$941.41
• D)$5,250.18

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Definitions:

Horizontal Communication

The exchange of information, ideas, or feedback among individuals or teams at the same hierarchical level within an organization.

MUM Effect

Keeping mum about undesirable messages (choosing not to share bad news).

Quid Pro Quo Harassment

Implied or explicit promise of reward in exchange for sexual favors or threat of retaliation if sexual favors are withheld, given to an employee by a coworker or a superior. The Latin phrase quid pro quo roughly means “You do something for me and I’ll do something for you.”

Outward Communication

Communication that flows to those outside an organization (such as customers).