What Is the Annual Interest Rate of a Fully Amortizing,20-Year

question 23

Multiple Choice

What is the annual interest rate of a fully amortizing,20-year fixed rate $175,000 mortgage,with a monthly payment of $1,266.41?

• A)5.10%
• B)6.125%
• C)6.25%
• D)6.375%

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Definitions:

Genetic Level

Pertains to the influence of genes and hereditary factors on the physical and behavioral characteristics of organisms.

Personality Dimensions

Broad categories used to describe and categorize aspects of human personality, such as introversion/extraversion or emotional stability.

Conscientious

A personality trait characterized by being diligent, careful, and thorough, often displaying a strong sense of duty and responsibility.

Motivation

The psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort, and a person's level of persistence.