Making Extra Mortgage Payments Does Which of the Following

question 68

Multiple Choice

Making extra mortgage payments does which of the following?

• A) Increases the total amount of interest paid
• B) Reduces the length of the loan
• C) Decreases net worth
• D) Increases the points charged

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Definitions:

Executive Branch

The branch of government responsible for enforcing laws and policies, typically headed by the president or prime minister at the national level.

U.S. Senate

One of the two houses of the United States Congress, composed of senators from each state who serve six-year terms, with responsibilities including legislation and oversight of the government.

Administrative Law

The collection of rules and decisions made by administrative agencies to fill in particular details missing from constitutions and statutes.

Substantive Rules

Laws that define, describe, regulate, and create legal rights and obligations, as opposed to procedural laws that dictate the methods through which these rights and obligations are enforced.