First Bank Loaned $400,000 to Thomas,taking a Security Interest in His

question 10

Multiple Choice

First Bank loaned $400,000 to Thomas,taking a security interest in his yacht.Thomas defaulted on the loan and First Bank repossessed the boat.First Bank sold the yacht at a public sale.The sale yielded $50,000 more than the debt.First Bank

• A)must pay Thomas the $50,000.
• B)is entitled keep the $50,000.
• C)must share the $50,000 equally with Thomas.
• D)must pay the surplus to the Secretary of State.

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Definitions:

Coding

The process of transforming computer algorithms into a sequence of instructions that can be executed by a computer.

Multiple Linear Regression

A statistical method that employs multiple explanatory variables to forecast the result of a dependent variable.

Simple Linear Regression

a statistical method that models the relationship between a dependent variable and one independent variable using a linear equation.

Regression Model

A statistical model that estimates the relationship between a dependent variable and one or more independent variables.