You Put 20% Down on a Home with a Purchase

question 23

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.The bank will loan the remaining balance at 3.91% APR.You will make annual payments with a 30-year payment schedule.What is the annual annuity payment under this schedule?

• A)$18,100.23
• B)$11,439.96
• C)$6,666.67
• D)$11,009.49

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Definitions:

Generalized Anxiety Disorder

A continuous state of anxiety marked by feelings of worry and dread, apprehension, difficulties in concentration, and signs of motor tension.

Narcissistic Disorder

A mental condition characterized by a long-term pattern of exaggerated self-importance, the need for admiration, and a lack of empathy for others.

Lost Appetite

A decreased desire to eat, which can be caused by various factors including illness, emotional stress, or other conditions.

Dissociative Identity Disorder

A mental disorder characterized by the presence of two or more distinct personality states or identities within a single individual.