Which of the Following Options Regarding a $200000 Mortgage,compounded Semi-Annually

question 53

Multiple Choice

Which of the following options regarding a $200000 mortgage,compounded semi-annually requires the lowest total interest payment?

• A)A 4.0 percent interest rate,paid monthly and amortized over 15 years
• B)A 3.5 percent interest rate,paid monthly and amortized over 20 years
• C)A 3.5 percent interest rate,paid biweekly and amortized over 18 years
• D)A 3.25 percent interest rate,paid monthly and amortized over 22 years

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Definitions:

Skills Shortage

A difficulty finding people with the right skills to fill vacant positions.

Human Resource

The department within an organization that deals with recruitment, management, and development of its employees.

Human Capital

The collective skills, knowledge, and expertise that individuals possess, which can be utilized to create economic value.

Economic Output

The total value of all goods and services produced by an economy over a specific time period.