Which of the Following Payment Options Would Result in the Lowest

question 68

Multiple Choice

Which of the following payment options would result in the lowest amount of interest paid on a mortgage?

• A)Accelerated biweekly
• B)Biweekly
• C)Weekly
• D)Semi-monthly

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Definitions:

IRS

The Internal Revenue Service, the U.S. federal agency responsible for administering and enforcing the tax laws and collecting federal taxes.

Tax Return

A form or forms filed with a government body reporting income, expenses, and other pertinent tax information, used to calculate tax liability.

Financial Statements

Formal records of the financial activities and condition of a business, person, or other entity, typically including a balance sheet, income statement, and cash flow statement.

Plant Assets

Long-term tangible assets used in the operation of a business and not expected to be consumed or converted into cash in the short term.