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You Want to Sell Your House, and You Decide to Obtain

question 21

Multiple Choice

You want to sell your house, and you decide to obtain an appraisal on it. Looking at past data, you discover that actual prices obtained for houses and the appraisals given for them prior to their sale were as follows:                        Actual Selling Price \text { Actual Selling Price }
 Appraisal  Up to $500,000$500,001 or more  Row Tot  Up to $ 500,000 21930 $ 500,001 or more14620 Col Tot 351550\begin{array}{|c|c|c|c|}\hline \text { Appraisal }&\text { Up to } \$ 500,000 & \$ 500,001 \text { or more } & \text { Row Tot } \\\hline \text { Up to \$ 500,000 }&21 & 9 &30\\\hline \text { \$ 500,001 or more}&14 & 6 &20\\\hline \text { Col Tot }&35 & 15 &50\\\hline\end{array} Based on these data we can say that:

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Definitions:

Commercial Banks

Financial institutions that offer a wide range of services such as accepting deposits, issuing loans, and providing basic investment products to the public and businesses.

Selling Securities

The act of offering stocks, bonds, or other financial instruments for sale to investors, either through public offerings or via private placements.

Mutual Fund

Financial intermediary that pools funds from investors by selling shares of itself and uses the funds to purchase securities.

Financial Institution

An organization that provides financial services to its clients or members, such as banks, credit unions, and insurance companies.

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