You need to borrow $100,000 for a down-payment on a house, and $900.00 per month is the most you can afford. How long a loan term must you get in your mortgage, if the interest rate is 9%?
A) 15 years 180 months) .
B) 20 years 240 months) .
C) 30 years 360 months) .
D) No solution.
Correct Answer:
Verified
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A) 0%
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C)
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A) 0%
B) 5%
C)
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A) The "Risk Premium"
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