What Will Be the Monthly Payment on a Home Mortgage

question 48

Multiple Choice

What will be the monthly payment on a home mortgage of $75,000 at 12% interest, to be amortized over 30 years?

• A) $771.46
• B) $775.90
• C) $1,028.61
• D)$1,034.53

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Definitions:

Book Value

The value of a company's assets as recorded in its financial statements, minus the company's total liabilities and intangible assets such as goodwill.

Goodwill

An intangible asset that arises when a buyer acquires an existing business and pays a price higher than the fair value of the identifiable tangible and intangible assets.

Merger Transaction

A corporate action where two or more companies are consolidated into one entity, often to enhance competitiveness or grow market share.

Accounts Payable

Liabilities owed by a company to creditors or suppliers for goods and services received but not yet paid for.