At the End of Five Years,calculating the Loan Balance of a Constant

question 34

Multiple Choice

At the end of five years,calculating the loan balance of a constant payment mortgage is simply the:

• A)Present value of a single amount
• B)Future value of a single amount
• C)Present value of an ordinary annuity
• D)Future value of an annuity due

---

Definitions:

Apology

An expression of regret or remorse for actions or words that may have caused harm or inconvenience to someone else.

Indirect Approach

The indirect approach involves presenting background and supportive information before revealing the main message or conclusion, often used in sensitive or controversial contexts.

Buffer

A temporary storage area used to manage data transfer between devices or processes that operate at different speeds or with different priorities.

Explanation

A statement or account that makes something clear by describing it in more detail or revealing relevant facts.