If the maximum loan-to-value ratio that a lender will accept on a house costing $100,000 is 90%, then the borrower must make a:
A. minimum down payment of $10,000 plus closing costs.
B. minimum down payment of $10,000 including closing costs .
C. maximum down payment of $10,000 including closing costs and mortgage points.
D. maximum down payment of $10,000.
E. minimum down payment of $90,000 including closing costs.
Answer: A
You might also like to view...
GAAP require that research and development costs to develop a new product be
a. capitalized in the patents account. b. expensed in the period incurred. c. capitalized in the research and development costs account. d. amortized over the expected economic life of the new product.
When interpretation and observation are hindered, possibly causing poor communication between people, there is a ______.
a. perceptual barrier b. road block c. communication breakdown d. stalled interpretation
Jennette handles customer complaints at a small stationary company, and noticed that customers tended to complain about just a few products. Jennette e-mailed her manager a proposal requesting customer support software to help them track the issues, and they got a free trial of the software. After a few months, the system did not seem to be saving her time, and her manager said this would be too expensive. Jennette decided to abandon the software, and use a spreadsheet to track customer complaints instead. By finding a new solution, Jennette demonstrated which ability?
A. productive forgetting B. product innovation C. cognitive dissonance D. extrinsic motivation
An impetus for increasing ______ over the past 50 years was the changing disposition toward the use of tariffs and other trade barriers by country governments.
A. globalization B. complexity C. parochialism D. nationalization