<span>Your question lacks some context. So, I am going to assume that you are talking about relates to America as a whole. If my assumption is right, I'd have to say that the answer is false because they are at the state level and the federal level outranks it. For instance, if Texas passes a law abolishing a minimum wage, the law on federal minimum wage still must be followed.</span>
Answer:
Money is defined as something that serves as a medium of exchange.
The money supply is the total amount of money available in an economy. It includes:
- M1 includes coins and notes (bills) in circulation plus other money equivalents that are easily liquidated.
- M2 includes M1 plus short term bank deposits and 24 hour money market funds.
- M3 includes M2 plus long term bank deposits and money markets with more than 24 hour maturity.
<u>Given:</u>
Loan amount = $250000
Interest rate = 5.5%
Interest payment = $2042.71
<u>To find:</u>
Total amount of interest
<u>Solution:</u>
The total number of months in 15 years = 
Total monthly payments will be 
So, the total pay-backs will be $3,67,687.8
Total interest paid will be as follows,

On plugging-in the values in the above formula we get,

Therefore, the total amount of interest that the borrower will pay over the course of the loan is $1,17,687.80.
Explanation:
Provide an outline of the material and how it will be presented.
is the correct answer .
hope it is helpful to you☺️☺️☺️