A Home Buyer Buys a House for $225,000

question 6

Multiple Choice

A home buyer buys a house for $225,000.She pays 20% cash,and takes a fixed-rate mortgage for ten years at 6.26% APR.If she makes semi-monthly payments,which of the following is closest to each of her payment?

• A)$915.08
• B)$932.05
• C)$937.50
• D)$1165.07

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Definitions:

Dependent Variable

Factor affected by independent variables.

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Open Systems Theory

The assumption that organizations are systems that interact with their environments to obtain resources or inputs and transform them into outputs returned to the environment for consumption.

Environmental Influences

Factors in an individual's immediate surroundings that affect their ability to work or perform effectively.