If You Made a Down Payment of $11,000 on a $110,000

question 63

Multiple Choice

If you made a down payment of $11,000 on a $110,000 house,the lender no doubt will require ____ as a result of the size of the down payment.

• A) closing points
• B) a bond
• C) mortgage insurance
• D) application fees
• E) homeowner's insurance

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Definitions:

P(A Or B)

P(A Or B) represents the probability that either event A or event B occurs, including the case where both may occur.

Probability Tree

A diagram that shows the possible outcomes of a series of related choices or events, and their probabilities.

Marital Status

A legal or social recognition of a person's relationship status, often categorized as single, married, divorced, or widowed.

Independent

When two events or variables have no direct influence on each other in a statistical context.