The RATE

question 8

Multiple Choice

The RATE

• A) is the periodic interest rate, such as a monthly interest rate.
• B) is the total number of payment periods.
• C) is a word or a string of characters that represent one or more cells.
• D) the present value of the loan.

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Definitions:

Builders' Lien Act

Legislation that allows contractors and suppliers to place a lien on a property they have worked on or supplied materials for, to secure payment.

Easement by Prescription

A right to use the property of another acquired through continuous and open use for a period defined by law.

Adverse Possession

A right to actual possession, which can be acquired by non-contested use of the land.

Profit a Prendre

A right granted to an individual to take resources, such as minerals, fish, or timber, from the land of another.