A Home Buyer Buys a House for $225 000

question 61

Multiple Choice

A home buyer buys a house for $225 000. She pays 20% cash, and takes a fixed-rate mortgage for 10 years at 6.26% APR. If she makes payments at the end of every two weeks, which of the following is closest to each of her payments?

• A)$915.08
• B)$1 165.07
• C)$932.05
• D)$937.50

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Definitions:

Neurocognitive Disorder

A group of conditions that occur when the brain's cognitive functions are impaired; includes diseases such as Alzheimer's and other dementias.

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification of officially recognized psychiatric disorders, used by mental health professionals in the U.S.

Alzheimer's Disease

A progressive neurodegenerative disorder characterized by cognitive decline and memory loss.

Memory Impairment

A significant reduction in the ability to remember information, events, or procedures, affecting daily life.