Ianna Has Found a Fixed Rate Mortgage for $300 000

question 70

Multiple Choice

Ianna has found a fixed rate mortgage for $300 000 at four percent interest amortized over 30 years.Her payment will be $1426 per month.How much would her payment be if she wanted to amortize the mortgage over 15 years?

• A)$2219
• B)$1733
• C)$2214
• D)$1711

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Definitions:

Seam Welds

Continuous welds made along the seam of two materials, such as sheets or panels, to join them together.

Reference

A notation on a document pointing to additional information or to a source where further details can be found.

Plug Welds

Welds made by filling a hole in one piece of metal with molten metal to join it to an adjacent piece, often used in sheet metal applications.

Slot Welds

Welds made in an elongated hole in one member of a joint fusing it to another member, typically used to transfer shear loads.