Your 30-Year $95,000 Mortgage Calls for Payments to Be Made

question 99

Multiple Choice

Your 30-year $95,000 mortgage calls for payments to be made at the end of each month. The loan has a 5.85% annual interest rate. What is the remaining balance after 5 years?

• A) $68,194.73
• B) $76,903.26
• C) $81,072.85
• D) $88,236.17

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Definitions:

ATP

Adenosine triphosphate, a molecule that stores and transfers energy within cells, essential for metabolic processes.

Aerobic Respiration

A process in which cells convert glucose and oxygen into energy, carbon dioxide, and water, occurring in the mitochondria.

Citric Acid Cycle

A key metabolic pathway that takes place in the mitochondria of cells, where acetyl CoA is oxidized to produce energy in the form of ATP.