A Loan Officer States,"Thousands of Dollars Can Be Saved by Switching

question 17

Multiple Choice

A loan officer states,"Thousands of dollars can be saved by switching to a 15-year mortgage from a 30-year mortgage." Calculate the difference in payments on a 30-year mortgage at an interest rate of .75% a month versus a 15-year mortgage with an interest rate of .7% a month.Both mortgages are for $100,000 and have monthly payments.What is the difference in total dollars that will be paid to the lender under each loan? (Round the monthly payment amounts to 2 decimal places.)

• A) $89,211
• B) $98,406
• C) $113,465
• D) $124,300

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Intangible Asset

An asset that is not physical in nature, such as patents, trademarks, and goodwill, which has value due to its potential to generate economic benefits.

Identifiable

Capable of being recognized and distinguished from others, often used in accounting and finance to describe assets that can be attributed to a particular entity.

Cash Flows

The inflows and outflows of cash and cash equivalents, representing the operating, investing, and financing activities of a business.

Operating Activities

Transactions and events related to the primary activities of a business, such as selling products or services, that affect the operational cash flow.