If a Person Is Going to Borrow $360,000 for a Home

question 84

Multiple Choice

If a person is going to borrow $360,000 for a home and pay it off with a constant mortgage payment every month for 30 years, what do you know about their mortgage payment (if the interest rate is positive) ?

• A)Nothing.
• B)The payment is more than $1,000 per month.
• C)The payment is exactly than $1,000 per month.
• D)The payment is less than $1,000 per month.

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Definitions:

Nekton

Free-swimming aquatic organisms such as fish and turtles. Compare with plankton.

Transition Zone

An area or region between two distinct spaces, phases, or conditions in various contexts, including geography, biology, and materials science.

Ecosystems

Communities of living organisms interacting with their physical environment, forming a system of energy flow and nutrient cycling.

Ecotone

A transition area between two biological communities where different ecosystems meet and integrate, often rich in species diversity.