A Borrower Obtains a $150,000 Reverse Mortgage with Monthly Payments

question 9

Multiple Choice

A borrower obtains a $150,000 reverse mortgage with monthly payments over 10 years.If the interest rate of the mortgage loan is 8%,what is the monthly payment received by the borrower?

• A)$820
• B)$863
• C)$1,250
• D)$1,820

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Definitions:

Nerve Impulses

Electrical signals that transport information along the neurons, facilitating communication within the nervous system.

Movement

The act or process of moving, involving physical change in position or relocation of an object or organism.

Back Propagation

A key algorithm in neural networks used for training, by adjusting weights based on the error rate obtained in the previous epoch.