Which of the Following Statements Regarding a 30-Year Monthly Payment

question 165

Multiple Choice

Which of the following statements regarding a 30-year monthly payment amortized mortgage with a nominal interest rate of 8% is CORRECT?

• A) Exactly 8% of the first monthly payment represents interest.
• B) The monthly payments will decline over time.
• C) A smaller proportion of the last monthly payment will be interest, and a larger proportion will be principal, than for the first monthly payment.
• D) The total dollar amount of principal being paid off each month gets smaller as the loan approaches maturity.
• E) The amount representing interest in the first payment would be higher if the nominal interest rate were 6% rather than 8%.

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Definitions:

Humanist Therapists

Mental health professionals who focus on the individual's unique potential for personal growth and self-actualization.

Transference

In psychoanalysis, the process by which emotions and desires originally associated with one person are unconsciously transferred to another person.

Family-Systems Perspective

An approach to doing therapy with individuals or families by identifying how each family member forms part of a larger interacting system.

Dysfunctional Families

Family units that have unhealthy patterns of behavior and relationships, often leading to emotional and psychological problems for members.