You Are Considering Purchasing a New Home

question 38

Multiple Choice

You are considering purchasing a new home. You will need to borrow $250 000 to purchase the home. A bank offers you a 15-year fixed rate mortgage (180 months) at 9% APR (0.75% per month) . If you borrow the money from this bank, your monthly mortgage payment will be closest to:

• A)$660
• B)$2 536
• C)$1 390
• D)$2 585

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Definitions:

Order Cycle Time

The total time taken from the moment a customer places an order until the product is delivered, reflecting the efficiency of a supply chain.

Global Trade

The exchange of goods, services, and capital across international borders or territories.

Security

Involves measures and protocols put in place to protect assets, information, and operations from theft, damage, and interruptions.