How did the decline in the price of tobacco in the third quarter of the seventeenth century change the Chesapeake?

The Chesapeake society was basically formed by landowners, servants and free workers during most of the seventeenth century, but more workers were needed. The production of tobacco helped to stabilize Virginia but it also created social tensions because free workers that demanded their rights as Englishmen while slaves didn't have any rights and could be controlled easily. At the end of the seventeenth century, 1 out of 8 people were slaves because it was more profitable to buy slaves and put them to work than paying free Englishmen for their work. Also, slavery provided perpetual labor force while indentured servants were required to work for a certain number of years. Slavery would continue to grow as the number of indentured servants decreased and the cost of hiring free workers increased.

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.