There are about 75 million owner-occupied homes in the United States,and about 50 million of those have a mortgage.If the foreclosure rate is 6 percent per year,how many home foreclosures take place each year?
A) 3 million
B) 4.5 million
C) 6 million
D) 7.5 million

Question

Quizplus · Accepted Answer

The number of homes with a mortgage is 50 million. With a foreclosure rate of 6 percent per year, the number of foreclosures is 0.06 * 50 million = 3 million.

There Are About 75 Million Owner-Occupied Homes in the United