Assume Your Current Mortgage Payment Is $900 Per Month

question 76

Multiple Choice

Assume your current mortgage payment is $900 per month.If you begin to pay $1,000 per month (with the extra $100 per month going to principal) ,which of the following will be TRUE?

• A)The mortgage balance will decrease faster with $1,000 monthly payment compared to $900 monthly payments.
• B)The total paid (principal and interest)will increase with $1,000 monthly payment compared to $900 monthly payments.
• C)The total interest expense will increase with $1,000 monthly payment compared to $900 monthly payments.
• D)The total principal paid will decrease with $1,000 monthly payment compared to $900 monthly payments.

---

Definitions:

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driving individuals towards achieving their objectives.

Facial Feedback Effect

The phenomenon that suggests that facial expressions can influence emotional experiences, implying that smiling can make one feel happier.

Facial Feedback Effect

The facial feedback effect is a psychological theory suggesting that facial expressions can influence emotional experiences.

Behavior Feedback Effect

The Behavior Feedback Effect is the phenomenon where an individual's behavior can influence their thoughts and feelings, which in turn impacts future behaviors.