Your business has just taken out a 1-year installment loan for $72,500 at a nominal rate of 11.0% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal?
A. 73.67%
B. 77.55%
C. 81.63%
D. 85.93%
E. 90.45%
Answer: E
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Which of the following statements describe leadership?
a. Leadership involves the ability to mentor and motivate people b. Leadership means inspiring and transforming people and organizations c. Leadership involves the ability to create a vision for the organization d. All of the above
A contract that has been fully performed by one party but not by the other party is a(n) ________ contract.
A. void B. voidable C. executory D. executed
Lynne agrees to buy Harriette's farm for $200,000 and puts $20,000 down. Then Lynne learns she is allergic to hay and repudiates the contract. If Harriette can sell the farm in a good faith transaction for $190,000 a month later, she may:
a. keep Lynne's $20,000. b. keep $10,000 of Lynne's down payment. c. not keep any of the down payment money. d. sue for specific performance.
In the United States, courts have the power to offer advisory opinions and answer hypothetical questions put to them by attorneys
Indicate whether the statement is true or false