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Which of the following is not a characteristic of an ideal economic market? O There are many buyers and sellers. O Supply is flexible, expanding or contracting quickly. O The products are homogeneous. O Purchases are relatively large and infrequently made. If the mortgage loan is 80% of the house purchase price and the interest rate of 6% amounts to $460 mortgage payment each month for 15 years, what is the house purchase price? O 95,905 O 76,724 O 54,512 O 68,140 What interest rate is necessary for you to afford a $426,918 home when you pay a down payment of $75,000 and take out a 20 year loan with a monthly mortgage payment of $2,255? O 4.65 O 3.34 O 3.02 O 2.46 What interest rate is necessary for you to afford a $512,323 home when you pay a down payment of $75,000 and take out a 30 year loan with a monthly mortgage payment of $2,255? O 4.65 3.34 O 3.02 2.46 OO