You Put 20% Down on a Home with a Purchase

question 39

Multiple Choice

You put 20% down on a home with a purchase price of $300,000.The down payment is thus $60,000,leaving a balance owed of $240,000.The bank will loan the remaining balance at 4.28% APR.You will make annual payments with a 20-year payment schedule.What is the annual annuity payment under this schedule?

• A)$18,100.23
• B)$22,625.29
• C)$12,000.00
• D)$33,785.23

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Definitions:

African Americans

Refers to citizens of the United States who have total or significant ancestry from any of the black racial groups of Africa.

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A brand known for its range of male grooming products, including antiperspirants, deodorants, body washes, and fragrances.

Generation Y

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