Pat Realized a Total Return of 11

question 13

Multiple Choice

Pat realized a total return of 11.8 percent which is less than his expected return of 12.5 percent.What is the amount of his unexpected return?

• A) -1.4 percent
• B) -0.7 percent
• C) 0.7 percent
• D) 1.4 percent
• E) 1.8 percent

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Definitions:

Lemon Laws

Lemon laws are statutes that provide remedies to consumers for vehicles that repeatedly fail to meet certain standards of quality and performance.

Used-car Fraud

Deceptive practices related to the sale of pre-owned vehicles such as rolling back the odometer, not disclosing past damage, or falsifying service history.

Truth in Lending Act

A U.S. federal law enacted in 1968 to help protect consumers in their dealings with lenders and creditors by requiring clear disclosure of key terms of the lending arrangement and all costs.

Mortgage

A loan specifically used to purchase real estate, where the property itself serves as collateral for the loan.