You Want to Borrow $200,000 at 4

question 72

Multiple Choice

You want to borrow $200,000 at 4.5 percent interest.If you assume a 10-year loan,the monthly payment will be ________ as compared to ________ if you assume a 20-year loan.

• A) $1,237.50; $1,103.88
• B) $2,007.75; $1,237.50
• C) $2,072.77; $1,265.30
• D) $2,198.18; $1,303.88
• E) $2,298.16; $1,433.50

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Definitions:

Quota

A limit set by a government on the quantity of a particular product that can be imported or exported within a given timeframe, used for trade regulation.

Policy Action

A deliberate action taken by a government or other organization to influence economic, social, or environmental outcomes.

Domestic Supply

The sum of all products and services made within a nation, ready for use domestically or for sending abroad.

Domestic Demand

The total demand for goods and services within a country, including demand from both consumers and businesses.