Frank Purchased His Home in 1997 for $130,000

question 55

Short Answer

Frank purchased his home in 1997 for $130,000.He added an addition costing $35,000.The current tax assessed value is $80,000 while the current market value is $185,000.If Frank's current mortgage balance is $95,000,his equity in his home is
(a)$130,000.
(b)$165,000.
(c)$90,000.
(d)$70,000.

Understand the components and purpose of a business plan.

Grasp various organizational strategies in business writing, focusing on topical organization.

Develop an understanding of the differentiation between solicited and unsolicited proposals.

Identify and differentiate between various types of reports and their purposes within business contexts.

---

Definitions:

Material

Refers to the physical substances or components that are used to make or build something.

Trustee

An individual or organization that holds and administers property or assets for the benefit of a third party.

Beneficiary

An individual who receives benefits or is entitled to receive benefits from an insurance policy or trust.

Undue Influence

An improper or wrongful persuasion that compromises the free will of someone, making a decision or agreement questionable.