How are mortgages and deeds of trust related to one another?
A) They are two different methods to give a lender a security interest in real property of the
debtor.
B) Mortgages are used for real property, and deeds of trust are used for personal property.
C) They are two distinct aspects of a security agreement covering real property, both of
which must be present for the security interest to be valid.
D) They are two names for the same instrument, and thus can be used interchangeably.
E) Mortgages are used to create a security agreement covering residential real property, and
deeds of trust are used in connection with commercial real property.
A
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In Figure 2.3, the marginal rate of transformation of wheat into autos is
a. one and two-thirds.
b. two and one-third.
c. three fifths.
d. three sevenths.
Suppose you are buying your first home for $145,000, and you have $15,000 for your down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?
A. $741.57 B. $780.60 C. $821.69 D. $862.77 E. $905.91
At the beginning of the year, Barcroft Co. estimated that its total annual fixed overhead costs would amount to $25,000. Further, Barcroft estimated that its volume of production would be 2,000 units of product. Based on these estimates, Barcroft computed a predetermined overhead rate that was used to allocate overhead costs to the products made during the year. As predicted, actual fixed overhead costs did amount to $25,000. However, actual volume of production amounted to 2,200 units of product. Based on this information alone:
A. Products were overcosted during the year. B. Products were costed accurately during the year. C. Products were undercosted during the year. D. The answer cannot be determined from the information provided.
Successful salespeople ask the closing question and then briefly summarize the product's benefits.
Answer the following statement true (T) or false (F)