An Average House in the United States Today Contains Approximately

question 31

Multiple Choice

An average house in the United States today contains approximately 1,500 to 2,000 square feet.In Leeds,England,in the 1840s,an average house contained _____ square feet for an entire family.

• A)150
• B)500
• C)750
• D)1,000
• E)1,200

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Definitions:

Amortization Period

The total length of time over which equal regular payments will repay a loan.

Equal Payments

Regular payments of the same amount over the term of a loan or mortgage.

Compounded Semi-Annually

The process wherein the interest earned on an investment is added to the principal balance twice a year, resulting in compound growth.

Reduction of the Principal

The process of paying down the initial amount borrowed in a loan, not including interest payments.