You Just Bought a Home for $250,000 and Are Scheduled

question 54

Multiple Choice

You just bought a home for $250,000 and are scheduled to make monthly payments of $1,834.41 for 30 years at 8% APR.Suppose you add $400 each month to the $1,834.41 house payment,making your monthly payment $2,234.41.This extra amount is applied to the principal.How long will it take you to pay off your loan of $250,000? Use a calculator to determine your answer.

• A)It will take about 206 months.
• B)It will take about 216 months.
• C)It will take about 15.5 years.
• D)It will take about 16.5 years.

Recognize strategies for preventing accidental burns in the home.

Understand proper disposal techniques for solid waste and unused medications.

Know the procedures for emergency situations requiring the use of restraints and the legal implications.

Identify safety measures to prevent electrical hazards and equipment malfunctions.

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Definitions:

Model

A representation, often simplified, that is used to demonstrate or explain complex processes, structures, or concepts.

Buyer Behavior

The actions and decision-making processes of individuals or groups as they purchase goods or services.

Organizational Buying Process

The problem-solving procedure the firm uses to meet its goals and objectives as it relates to making purchases.

Decision Criteria

involves the standards or benchmarks used to evaluate options and make choices, particularly in business or policy decisions.