Decide whether the statement makes sense. Explain your reasoning.I have a 30-year mortgage and have been paying it off for 10 years now so I should have paid off about one third of the principal by now.
What will be an ideal response?
No, the statement does not make sense. After 10 years, less than one third of the principal will have been paid. Early payments on a mortgage tend to be almost entirely interest. As time goes by, a larger portion of the payments goes towards principal.
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Provide an appropriate response.______, or income, represent money that has been collected.
A. Receipts B. Net income C. Outlays D. None of the above
Solve the problem.Consider an account with an APR of 6%. Find the APY with quarterly compounding, monthly compounding, and daily compounding.
A. 21.14%, 21.17%, 21.18% B. 1.50%, 0.50%, 6.31% C. 6.14%, 6.17%, 6.18% D. 15.14%, 16.17%, 16.18%
Write the first five terms of the arithmetic sequence with the given first term a and common difference d.a = 4; d = 5
A. 4, 8, 12, 16, 20 B. 4, 9, 14, 19, 24 C. 9, 14, 19, 24, 29 D. 0, 4, 9, 14, 19
Race was originally conceptualized as what kind of a concept?
A. cognitive B. cultural C. biological D. social