MrFisher Has Built Several Houses and Is Offering Buyers Mortgage

question 25

Multiple Choice

Mr.Fisher has built several houses and is offering buyers mortgage rates of 10% with a 15 year term.Current rates are 10.75%.Fourth National Bank will provide the loans,if Mr.Fisher pays an equivalent amount up front to buy down the interest rate.If a house is sold for $290,000 with a 90% loan,how much would Mr.Fisher have to pay to buy down the loan?

• A)$1,957.50
• B)$11,989.34
• C)$11,250.25
• D)$10,790.41

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Definitions:

Functional Flexibility

Describes the ability of an organization or its workforce to adapt, change or shift among various roles, responsibilities, or tasks as needed, enhancing overall efficiency and responsiveness.

Employment Flexibility

Refers to the adaptability of work arrangements, allowing for changes in working hours, locations, and duties to meet both employer and employee needs.

Functional Flexibility

The ability of an organization to adapt and manage workforce skills and roles to meet changing market conditions, often involving cross-training and job rotation.

Procedural Flexibility

The ability to adapt the processes and rules governing actions or decisions based on the circumstances, often to ensure fairness or efficiency.