An adjustable-rate mortgage (ARM) is defined as
A. a loan that has a specified payment amount and a specified repayment schedule.
B. a home loan where the interest rate varies based on a benchmark plus an additional spread.
C. a ratio expressing the amount of a first mortgage lien as a percentage of the total appraised value of real property.
D. insurance for the lender if it needs to foreclose on your home and the sale of the home does not cover the mortgage and the cost of the foreclosure.
Answer: B
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The weight of football players is normally distributed with a mean of 200 pounds and a standard deviation of 25 pounds. The probability of a player weighing more than 250 pounds is
A. 0.228. B. 0.9772. C. 0.0022. D. 0.9978.
A business that operates in more than one state is required to pay state income tax only to the state in which it is incorporated.
Answer the following statement true (T) or false (F)
Trevigne Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year.?Estimated total fixed manufacturing overhead from the beginning of the year$114,000??Estimated activity level from the beginning of the year10,000machine-hours?Actual total fixed manufacturing overhead$104,000??Actual activity level9,400machine-hoursRequired:Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.
What will be an ideal response?
Elizabeth worked as a salesperson in a carpet store. She was in the midst of divorce proceedings and needed some money. Elizabeth sold her wedding ring. Elizabeth is considered a merchant with regard to the sale of the ring
Indicate whether the statement is true or false