Your Current $95,000 Mortgage Calls for Monthly Payments Over 30

question 155

Multiple Choice

Your current $95,000 mortgage calls for monthly payments over 30 years at an annual interest rate of 6 percent. If you pay an additional $50 each month beginning with the first payment, how soon do you pay off your mortgage?

• A) 329.67 months
• B) 311.56 months
• C) 291.78 months
• D) 288.45 months

---

Definitions:

Responsive

The capability of reacting quickly and positively to changes or demands in the environment.

Uncertainty/Responsiveness Map

This map visualizes the relationship between the uncertainty faced by an organization and its ability to respond effectively, aiding in strategic planning.

Responsiveness Spectrum

Describes the range of a company's ability to adapt its operations and processes to meet market changes and customer demands.

Strategic Fit

The degree of alignment between an organization's strategies and the external environment in which it operates.