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:

Situational Factors

External conditions or circumstances that can affect an individual's behavior or choices at a given moment.

Aptitudes

Natural abilities or talents that individuals possess, which can influence their ease of learning or proficiency in particular tasks or areas.

Self-Verification

The theory that people have a need to seek confirmation of their self-concept, whether positive or negative, from others in their social environment.

Self-Concept

An individual's perception of themselves, which includes beliefs, feelings, and knowledge about personal attributes.