You Take a Fixed-Rate Mortgage for $132,000 at 6

question 17

Multiple Choice

You take a fixed-rate mortgage for $132,000 at 6.75% for 30 years,monthly payments.At the end of the second year,you unexpectedly inherit $18,000 from your now-favorite uncle.You decide to apply this $18,000 to the principal balance of your loan.How many payments are remaining after the extra lump sum payment is made?

• A) 233.33
• B) 126.67
• C) 121.15
• D) 272.00
• E) none of the above

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Definitions:

Physicians

Medical professionals licensed to diagnose and treat illnesses, injuries, and other health conditions.

Health Care

The maintenance or improvement of health via the prevention, diagnosis, treatment, amelioration, or cure of disease, illness, injury, and other physical and mental impairments in people.

Government Funding

Government funding refers to financial support provided by a government for projects, services, or to assist sectors of the economy.

Pediatric Care

Comprehensive medical care and services provided to infants, children, and adolescents, focusing on their growth, development, and health issues.