Math Part 6 Study Guide Rated A+

balloon payment large payment due at the end of the loan period closing costs fees associated with taking out a mortgage down payment initial cash payment fixed rate interest rate that does not change LTV Loan To Value mortgage a loan based on the value of the real estate it is used to purchase prepayment penalties fees required if loan is paid off before the end of its original term variable rate interest rate tied to an index that may change {Ans: finite has a beginning and an end infinite has no ending natural numbers the positive integers progression a sequence or a series, i.e. an arrangement of quantities, or summation of quantities, whose positions are based upon the natural numbers sequence an arrangement of quantities whose positions are based upon the natural numbers series a summation of quantities based upon a sequence}A sofa with a cash price of $400 at $50 down and $20.00 per month for 24 months. {Ans: 530.00, 130.00, 20}There is a $81,818 loan with annual interest due. There was $900 in closing fees and $6,300 in total interest the first year. If the APR is the finance charge for one year ÷ amount