Use the Information for the Question(s)below

question 34

Multiple Choice

Use the information for the question(s) below.
You are purchasing a new home and need to borrow $250,000 from a mortgage lender.The mortgage lender quotes you a rate of 6.25% APR for a 30-year fixed rate mortgage.The mortgage lender also tells you that if you are willing to pay 2 points,they can offer you a lower rate of 6.0% APR for a 30-year fixed rate mortgage.One point is equal to 1% of the loan value.So if you take the lower rate and pay the points you will need to borrow an additional $5000 to cover points you are paying the lender.
-Assuming you pay the points and borrow from the mortgage lender at 6.00%,then your monthly mortgage payment (with payments made at the end of the month) will be closest to:

• A)$708.
• B)$1530.
• C)$1540.
• D)$1600.

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Definitions:

Consummate Love

Sternberg argues that this is the ultimate form of love, involving passion, intimacy, and commitment.

Sternberg

Refers to Robert Sternberg, an American psychologist known for his theory on intelligence and creativity, which includes the triarchic theory of intelligence.

Passionate Love

An intense and absorbing romantic attachment to another person, often characterized by strong emotions and desire.

Eros

In psychology, a term derived from Greek mythology that represents the romantic, passionate love between individuals.