Carrie Bought a House Five Years Ago for $150,000

question 21

Multiple Choice

Carrie bought a house five years ago for $150,000. At that time she borrowed $140,000 from her bank. The house is now worth $162,000. Her PMI will automatically be dropped when her mortgage balance drops to

• A) $117,000.
• B) $122,000.
• C) $140,000.
• D) $150,000.
• E) $162,000.

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Definitions:

Cultural Norms

Common standards and regulations directing the conduct of members within social communities.

Commitment

denotes a state or quality of being dedicated to a cause, activity, or relationship, often implying a long-term engagement or obligation.

Phenylethylamine

A natural monoamine alkaloid, functioning within the human central nervous system as a neuromodulator or neurotransmitter.

Euphoria

An intense state of happiness, confidence, or well-being, sometimes naturally occurring or as a result of certain activities or substances.