Bud Is Offering a House for Sale for $180,000 with an Assumable

question 19

Multiple Choice

Bud is offering a house for sale for $180,000 with an assumable loan which was made 5 years ago for $140,000 at 8.75% over 30 years.Kelsey is interested in buying the property and can make a $20,000 down payment.A second mortgage can be obtained for the balance at 12.5% for 25 years.What is the effective cost of the combined loans,if Kelsey would like to compare this financing alternative to obtaining a first mortgage for the full amount?

• A)10.63%
• B)9.39%
• C)9.04%
• D)11.27%

Recognize the role of human ecology theory in understanding urban processes such as differentiation and ecological succession.

Explore the implications of postmodern urbanism, including class divisions and cultural phenomena.

Understand the similarities and differences between temperaments and attachment styles, and conceptualize how these frameworks could interplay in parenting strategies.

Acquire knowledge on the major research methodologies in human development, alongside their strengths and drawbacks.

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Definitions:

Equity Method

The Equity Method is an accounting technique used to record investments in other companies, recognizing the income earned from the investment proportional to ownership.

Dividends

Cash disbursements issued to shareholders by a company, commonly originating from the organization's earnings.

Total Assets

The sum of all resources owned or controlled by a company, valued in terms of money, which can be used to produce goods or services.

Investment Account

A financial account held at a bank or brokerage used to buy, sell, and hold securities like stocks, bonds, and mutual funds.