Brett applies to his bank for a $30,000 loan to purchase a truck for his family's use. This loan is subject to TILA disclosure requirements
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Short-term, highly liquid investments that are considered the same as cash when preparing the statement of cash flows are known as ____________________
Fill in the blank(s) with correct word
Marcus Jones wants to invest $10,000 on January 1, 2014, so that he may withdraw 10 annual payments of equal amounts beginning January 1, 2029. If the fund earns 10% annual interest over its life, what will be the amount of each of the withdrawals?
A) $10,000 B) $14,709 C) $16,181 D) $28,402
Which of the following asset categories would include the cost of clearing land and removing unwanted buildings?
A) land B) buildings C) land improvements D) machinery and equipment
Miriam Jensen purchased a fixer-upper home for $189,000 on January 4, 2015. The mortgage from Fifth Third Bank was recorded that same day in the amount of $175,000. On January 7, 2015, Miriam hired a contractor to install a new roof on her home. Miriam agreed to pay the contractor over time. The contractor filed a lien on her home on January 10, 2015, after the roof was installed. On January 23,
2015, Miriam purchased all new kitchen appliances including a built-in microwave, a built-in double oven, a countertop porcelain stove, and a refrigerator with panels that match the new cabinets her contractor was installing in the kitchen. Miriam purchased all of the appliances from Spencer TV and Appliance. The appliances were installed on January 30, 2015. Spencer's took a security agreement on January 23, 2015 and filed a financing statement on January 31, 2015. On February 1, 2015, Miriam bought a new bathtub for her bathroom that was installed by her contractor on February 5, 2015. Miriam had purchased the bathtub from Golden Baths and signed a security agreement on February 1, 2015. Golden Baths filed a financing statement on February 6, 2015. Miriam lost her job on July 23, 2015 and had to cease paying her mortgage. Fifth Third Bank foreclosed on the home on August 15, 2015. Miriam owed $174,000 at the time of foreclosure. She owes the following amounts to various creditors: Spencer's $17,000.00 Golden Bath $2,200.00 Roofing contractor $4,500.00 ?Which of the following is a security interest in fixtures? A) The roofing interest B) The bathtub C) Fifth Third Bank's D) None of the above