You Are Considering Purchasing a New Home

question 42

Multiple Choice

You are considering purchasing a new home. You will need to borrow $290,000 to purchase the home. A mortgage company offers you a 20-year fixed rate mortgage (240 months) at (1% month) . If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to ________.

• A) $2554
• B) $4470
• C) $3193
• D) $5109

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Definitions:

Homogamy

The practice or tendency of individuals to marry others who share similar social backgrounds, values, or characteristics.

Social Class

A way of categorizing individuals and groups within society based on various indicators such as wealth, occupation, education, and others, affecting their opportunities and lifestyles.

Inherited Diseases

Disorders or conditions that are passed down genetically from parents to their offspring.

Dating Violence

A pattern of abusive or coercive behaviors used by one individual over another in the context of an intimate or romantic relationship.