Duane Miller Wants to Know What Price Home He Can

question 10

Multiple Choice

Duane Miller wants to know what price home he can afford.His annual gross income is $60,000.He has no other debt expenses and expects property taxes and insurance to cost $400 per month.He knows he can get a 6%,15 year mortgage so his mortgage payment factor is 8.43.He expects to make a 10% down payment.What is Duane's affordable home purchase price? Round your answer to the nearest $100.

• A)$148,300
• B)$177,900
• C)$164,800
• D)$197,700
• E)$1,483,000

Understand the socioeconomic factors impacting community health.

Identify the roles of a community-based nurse, including case management, communication strategies, and intervention planning.

Recognize effective communication methods for non-English speaking populations in healthcare settings.

Analyze data for community health assessments.

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Definitions:

Cost Method

An accounting approach where investments are recorded at their acquisition cost, without subsequent change for market value fluctuations.

Liquidated

The process of converting assets into cash or using them to pay off liabilities in the event of a business closure, bankruptcy, or when assets are no longer needed.

Subsidiary Company

A company that is completely or partly owned and partly or wholly controlled by another company, known as the parent company.

Parent Company

A corporation that owns a majority of the shares of another company, thus controlling management and operations.