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The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.

The homeowner is borrowing $360,000.
The monthly interest rate is 4 percent.
Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
Monthly payments must be made for 360 years.

The table shows the terms of a fixedrate mortgage Which accurately describes the terms of this mortgage Check all that apply The homeowner is borrowing 360000 T class=

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Answer:

C - Monthly payments must be made for 30 years.

D - The annual interest rate is 4.8 percent.

E - The homeowner is borrowing $200,000.

Explanation:

Got It Right On Edge :)

The fixed-rate mortgage concept is used in home loans. Monthly payments for 30 years, the interest rate is 4.8%, and borrowing $200,000.

What is a fixed-rate mortgage?

It is usually used in home loans with a fixed interest rate during the term of the loan. It is beneficial because once the rate of interest is fixed it is not influenced by the increase in the rate in the future.

C - Monthly payments for 30 years.

D - The interest rate is 4.8 % annually

E -  borrowing $200,000.

Therefore, options C, D, and E explain the fixed-rate mortgage.

Learn more about  fixed-rate mortgages here:

https://brainly.com/question/2726838

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